The second of the Spoilt for Choice property auctions was held in the Victoria Hotel which was once again packed to capacity with bargain hunters chasing value for money. Anne Harding, the auction co-ordinator for O’Donnellan and Joyce commented: “There is unbelievable interest in the auctions at the moment as people realise that there is great value to be had and sellers are all extremely anxious to sell.”
Last Friday was no exception when O’Donnellan and Joyce, placed another five properties up for sale in the auction room and sold four with the fifth under active negotiation.
The first property to be offered for sale was a detached residence at Ardilea, Menlo. The property which was in need of refurbishment and repair stood on a delightful half acre site within easy access of Galway city centre. Described by the agents as an “oasis of tranquillity”, the bidding opened at €130,000 and with 10 different bidders chasing the property and increasing in increments of €2,000, it was like a run away train in the room until the final bid was obtained by auctioneer Colm O’Donnellan who knocked the gavel at €209,000 to a tremendous applause from the packed auction room.
The next property to be auctioned was a bungalow in need of substantial repair at Uggool, Moycullen. Located on an elevated site the AMV was €90,000 and bidding opened substantially below that at €70,000. Seven different individuals chased and bid for the property intensely until it arrived at a figure of €130,000, it was then left to two interested parties who bid in €1,000 increments until finally the auctioneers gavel fell at €140,000. The property was purchased in trust by a well known property advisor Mr Kevin Doyle on behalf of a delighted client.
The third property at be auctioned off was No 4 Sea Road, which comprises of a ground floor laundrette of approximately 650 square feet with two apartments overhead. Described by the auctioneers as a unique business opportunity with exceptional accommodation overhead, bidding commenced at €300,000 and after a number of bids it was withdrawn as it failed to reach the reserve price of €350,000. However negotiations were entered into immediately afterwards and it was sold for an undisclosed sum.
The fourth property at 49 Dalysfort Road, Salthill, was offered for sale by joint agents O’Donnellan & Joyce and Barry Doyle & Co, Dalysfort Road, Galway. The property was acquired just before the auction by a canny purchaser who sensed that there was excellent interest in the property and placed a substantial offer well in excess of the AMV of €265,000 and acquired the property prior to its entering the room.
The final property at 23 Oaklands, Salthill, received a bid of €330,000 and is currently under active negotiation through O’Donnellan & Joyce and joint agents Oliver Lynch & Co, Eyre Street, Galway.
Anne Harding from O’Donnellan & Joyce said that they were “extremely satisfied with the sales which further reinforced that there are loads of buyers out there who have money in place to buy property at realistic prices.”
O’Donnellan & Joyce will hold its last auction of the summer tomorrow at 3pm in the Victoria Hotel, Eyre Square. Further details can be had by contacting Colm O’Donnellan, Tony Joyce or Anne Harding (091 ) 564212.
