O’Donnellan & Joyce placed five houses up for sale by public auction in a packed to capacity auction room last Friday in the Victoria Hotel. Four of the houses were sold and one is currently under active negotiation.
The first property to be auctioned was No 42 McDara Road, Shantalla, a one bedroom semi-detached residence situated in what the auctioneers refer to as one of Galway’s oldest and most established areas, within walking distance of the city centre, and described as a great starter home. The accommodation includes lounge, kitchen/dining room, and one bedroom. Bidding commenced at €130,000 and increased in increments of €5,000. It was placed on the market when it reached the reserve price of €165,000. As the auctioneer’s hammer was about to fall at €172,000 the bids increased further until eventually it was sold at a price of €178,000, to a tremendous applause from the packed auction room. The property was purchased by Brian Claffey, solicitor in trust. The solicitor for the sellers was Helena McGrath, McDermott & Allen, St Francis Street, Galway.
The second property to be auctioned was a detached residence at No 6 Rivendell, located between Highfield Park and Taylor’s Hill. This four bedroom detached residence was in need of a certain amount of modernisation. Two individuals keenly chased the property with bidding commencing at €300,000; it increased in bids of €5,000 until eventually it reached a figure of €350,000. The property was withdrawn and was subsequently sold by auctioneer Colm O’Donnellan at a figure of €360,000. The solicitor for the sellers was Cathriona Gahan, Bohan & Co, 3 Inns Court, Winehaven Street, Dublin 8.
The third property to be offered for sale on the day was a detached residence at No 9 Brooklawn, Knocknacarra Road. The property has a magnificent façade with a large garden, situated in the popular residential area of Brooklawn just off the Knocknacarra Road. The house requires a certain amount of modernisation and refurbishment. Bidding commenced at €520,000 and three people bid keenly for the property and it final reached a figure of €590,000. It was withdrawn from auction and immediately afterwards sold by auctioneer Colm O’Donnellan for a price in excess of €600,000. The solicitor for the sellers was Michael Keane, James Street, Claremorris, Co Mayo.
The fourth property was No 3 Loyola Park, College Road, a three bedroom detached bungalow in need of substantial modernisation and repair. Located within walking distance of the city centre, the property attracted exceptional interest. Bidding commenced at €150,000, with four individuals chasing the property; it eventually reached a figure of €185,000 and was sold afterwards at €188,500. The solicitor for the sellers was Marie O’Brien, Henry Comerford & Co, 3 Montpelier Tce, Sea Road, Galway.
The fifth property to go under the hammer was No 19 Hazelwood, Taylor’s Hill, which attracted bids up to €500,000 but failed to sell in the auction room. The property is currently under active negotiation.
Colm O’Donnellan of O’Donnellan & Joyce said that the company was delighted with the tremendous crowds that turned up for the auction and the active bidding. “There is no doubt that there is absolutely fantastic value to be had in the auction room where vendors who want to sell and on the advice of the auctioneers are placing very realistic reserve prices on the properties in order to obtain a sale, and buyers are becoming aware of the position and are chasing the value in the auction room,” he said.
O’Donnellan & Joyce’s next auction will be held on May 28. Further details can be had from Colm O’Donnellan or Anne Harding at (091 ) 564212.
