The veranda lounge at the Radisson Blu hotel was a hive of activity last Friday as leading local agent DNG Maxwell Heaslip & Leonard held its September auctions. As the crowd assembled from 2.30pm onwards, there was a brisk air of activity in the room from the outset. As always, the auctions are streamed live online on www.dnggalway.ie and www.advertiser.ie and are proving popular worldwide. Friday’s auctions had viewers in locations as diverse as Qatar, Iceland, Malta, Saudi Arabia, the US, and the Bahamas, as well as throughout Ireland and the UK.
With 12 lots going under the hammer, auctioneer James Heaslip commenced the auctions promptly. With 11 of the 12 lots selling on the day, the results confirmed the increased levels of market activity experienced over the past number of months. “We were very happy with the day’s proceedings with 11 out of the 12 lots selling on the day,” Mr Heaslip said. “Interest in many of the properties was even greater than we would have predicted – Aengus House in particular. We knew there would be a lot of interest in it but it proved to be even more popular on the floor.” No 46 Aengus House was the second lot of the day and saw a total of 26 bids bring the price from the opening bid of €225,000 to an impressive winning bid of €340,000.
Apartments for sale in Gort na Coiribe, which are currently let under a pooled student rent scheme offering excellent yields, proved very popular with investors eager to avail of tax incentives due to expire at the end of the year. No 16 Gort na Coiribe, a two bedroom apartment which had guided an AMV of €110,000 in the run up to the auction, saw bidding commence at €105,000 with the hammer falling at €137,000. No 134 Gort na Coiribe, a four bed duplex townhouse, generated a huge amount of interest with a total of 45 bids seeing the property far exceed its reserve price and ultimately sell at €240,000. No 86 Gort na Coiribe, a four bedroom terraced house, also enjoyed an intense period of bidding from the opening bid of €130,000 to the final sale price of €245,000. Also included in the auction was No 166 Gort na Coiribe, a two bedroom luxurious penthouse apartment which is not part of the pooled rent scheme, which sold following a swift period of bidding at €200,000.
Other popular properties on the day included No 5 Ceannt Avenue, Mervue, which saw an opening bid of €105,000 slowly creep up and exceed its reserve price to achieve a final sale price of €148,000. A commercial unit located at Ballybane Industrial Estate also enjoyed bids from a number of interested parties, which brought the price from the opening bid of €75,000 to the final selling price of €147,000 some 39 bids later. No 52 Dun Aengus also proved a popular choice on the day with periods of intense bidding before auctioneer James Heaslip lowered the gavel at a price of €242,000. Another popular lot on the day was No 7 Rockbarton Court, a two-bedroom apartment in the ever popular area of Rockbarton, Salthill, which saw the bidding rise from an opening bid of €160,000 to the final of €215,000. No 34 Crescent Court and No 60 Bun an Cnoc were the final two properties to sell on the day at prices of €225,000 and €210,000 respectively.
DNG Maxwell Heaslip & Leonard will hold its final auctions of 2014 on November 21 in the Radisson Blu Hotel. To include your property, contact the auction team at 091 565261.
