It was standing room only in a packed auction room at Colleran’s latest auction last week, where all properties were sold by Don Colleran in excess of their guide.
First to be auctioned was No 24 Davis Road, Shantalla, an end of terrace house which had been totally renovated and extended only seven years ago and presented in excellent order. Described by the auctioneer as “one of the finest examples of the development potential of Shantalla properties”, bidding opened at €155,000 and very quickly rose in bids of €5,000, with a combination of investors and families pursuing the property, before it eventually sold for €202,000.
No 31 Emmet Ave, Old Mervue, a three bedroom terrace in need of modernisation with a very large south facing back garden, was the next to sell. Bidding quickly opened at the AMV of €90,000, and with two buyers in pursuit of the house as a home rather than investment, it rose quickly before Don Colleran dropped his gavel at €110,000 to a bidder at the very front of the room.
There was similar interest in the next property at No 14 Cooke’s Terrace, Bohermore, when two interested parties outbid all others in the room before the house eventually sold at €116,000.
Following these successful sales the auction of land in Claregalway proved a little more difficult. While a lot of interest was expressed in this smallholding prior to auction, it quickly became evident that no one wished their interest to be declared, and while the reserve was not reached on the auction floor the property did sell immediately after the auction to the delight of the vendor.
The last property to be auctioned was No 2 Sylvan Road, Newcastle, which of all the properties had generated the most interest prior to auction, and this was evident with the large number of people who had remained in the auction room. Despite the huge interest bidding was initially slow to start but Don Colleran’s persistence paid off when four separate bidders eventually declared their interest. Bidding opened at the AMV of €280,000 and quickly rose in bids of €5,000. When the bidding exceeded €320,000 the tension increased with a new bidder entering the fray. Bidding quickly centred on two people to the front of the room who exchanged bids for another five minutes before the property eventually sold for €370,000, after a total of 36 bids.
Don Colleran reported later that all his clients were obviously very pleased at the outcome and that the auction highlighted once again the strong demand he has for city centre properties. Mr Colleran appealed to anyone thinking of selling to contact him now as he is compiling properties for his next auction.
Contact Colleran auctioneers at 091 562293.
