O’Donnellan & Joyce once again proved the phenomenal interest that there is in properties which are well priced being sold at auction when the company placed 12 properties under the hammer last Friday in the auction room. Ten of these were sold at or well above their guide price.
The first property to be offered for sale was No 16 Colmcille Road, Shantalla. Bidding commenced at €95,000 and increased in increments of €2,000. It reached its reserve price within two minutes and was placed on the market at €100,000. Five individuals bid intensively for the property until the hammer fell at €136,000.
The next property was No 24 Ashe Road, Shantalla, a three bedroom end of terrace residence. Bidding commenced at €90,000. Once again bids came from all over the room until eventually the auctioneer’s hammer fell at €131,000.
The third property to be auctioned was No 75 River Oaks, Claregalway, a four bedroom semidetached residence in the centre of Claregalway. Bidding commenced at €104,000 and it was placed on the market for sale at €110,000. Six individuals chased the property with rapid bidding and the hammer went down at €144,000.
The largest sale of the afternoon was No 14 Threadneedle Road, Salthill, a detached residence with a large rear garden built in the 1950s. Bidding opened at €510,000 and increased in increments of €10,000. Two individuals chased the property until the hammer came down at €650,000.
The fifth property was No 23 Mullan Mor, Tuam Road. Bidding commenced at €100,000 and increased in increments of €2,000. It was eventually sold to a delighted young couple for €120,000.
A detached house in Clydagh, Headford, which was in need of refurbishment opened at €60,000, which was the reserve price, and was placed immediately on the market. Four individuals bid on the property until it was sold for €80,000.
The next property was No 35 St Mary’s Road, with bidding commencing at €430,000 and increasing in increments of €5,000. This property was withdrawn at €450,000, having failed to reach the reserve price. However it is under active negotiation.
The eighth property to go under the hammer was a modern four bedroom terraced residence in the centre of Barna, located within walking distance of all major facilities. The property attracted a lot of interest with bidding commencing at €205,000 and increasing in increments of €5,000. When it looked like the hammer was about to fall at €230,000, a new bidder entered the fray and it was sold for €233,000.
A property at Kilcoona, Headford, was withdrawn at €100,000 as it failed to reach the reserve price.
The residence at No 153 Rahylin Glebe, Ballybane, attracted 10 bidders. Bidding commenced at €60,000 and it was eventually sold for €87,000.
No 18 Prospect Hill, a mid-terrace residence in need of substantial refurbishment, saw bidding commence at €100,000 and increase to €127,000, when it was withdrawn. However it sold immediately after the auction for €150,000.
The highlight of the afternoon was a residence at the Pier Road, Barna. Bidding commenced at €70,000 and increased in increments of €5,000 as seven individuals bid intensely for the property until the auctioneer’s hammer fell at €160,000.
Colm O’Donnellan of O’Donnellan & Joyce said the company was thrilled with the large attendance and the intense bidding and the very good prices achieved on the day. “There is enormous interest for properties with realistic values,” he said.
O’Donnellan & Joyce will hold its next auction on December 14 at 3pm in the Victoria Hotel, Eyre Square, Galway. Further details are available from O’Donnellan & Joyce at (091 ) 564212.
