The first property which was placed under the hammer by O’Donnellan & Joyce last week was a three bedroomed semi-detached residence at 23 St Marys Road, Galway.
The property which was within walking distance of the city centre, NUIG and UCHG was described by the agents as the ultimate residential investment being within easy access of all major facilities. The property had attracted excellent interest and viewings over the last number of weeks but when it came down to the real business of buying it was left to two very shrewd Mayo people who bid against each other to purchase the property. Bidding commenced at €400,000 and increased in increments of €10,000 until eventually it reached €460,000. When the bids were reduced to increments of €1,000, the hammer was eventually knocked by auctioneer Colm O’Donnellan for a price of €465,000.
Solicitor for the sellers: Ms Breda Tierney, Kieran Murphy & Co., 9 The Crescent, Galway.
The next property which was auctioned was 6 Dalysfort Road, Salthill, Galway which is located on Salthill’s oldest residential road. The property had recently been refurbished and contained many of its original features. The views from 6 Dalysfort Road which overlooks Salthill Promenade, Galway Bay, and the Clare Hills was one of the most breathtaking available of any house in the Galway area. The property was withdrawn having failed to reach the reserve price and immediately after the auction negotiations were entered into with one of Galway’s leading solicitors, Michael Molloy of Blake & Kenny, who entered into protracted negotiations on behalf of a client who purchased it for €580,000.
Solicitors for the sellers: Mr Liam Staunton, 11 Sea Road, Galway.
Colm O’Donnellan of O’Donnellan & Joyce outlined that they were delighted for their clients for the conclusion of the sales and it further proved that there is tremendous interest in properties in good locations at value. There are a number of people out there who have substantial funds available to buy and the general feeling from shrewd investors is that the time is right to buy especially when value can be found for properties in good locations.
O’Donnellan & Joyce’s next auction will be held on Friday October 17, 2008 at 3pm in the Harbour Hotel when they will place a magnificent detached residence at New Village in Barna which overlooks Galway Bay.
Advised minimum value: In excess of €1,000,000
Also on the same day a detached residence at Corcullen, Bushypark, Galway, will be placed under the hammer. This property stands on an elevated site overlooking the River Corrib.
Advised minimum value: €450,000
Further particulars in relation to the auction can be had by contacting Colm O’Donnellan 087 2887446 or Anne Harding 086 8173335.
