Don Colleran held another successful auction last week, with two city centre properties exceeding their expectation, one by as much as 40 per cent.
No 5 Corrib Terrace, a three bedroom terraced house on the banks of the Corrib in the city centre, had been generating considerable interest prior to auction despite two similar properties in the area for sale. In need of attention, it was put to the auction room that they were buying not what was inside the front door of No 5, but what was outside, including the wonderful location of Corrib Terrace. Bidding opened at €145,000 with a number of investors anxious to secure the property. With five bidders and 30 bids later Don Colleran dropped his gavel at €207,000 to a delighted couple who secured the property as their new home.
Another property generating considerable interest was No 14 Tone Avenue, a three bedroom terraced house in Old Mervue with every convenience nearby. Unlike Corrib Terrace bidding on this property was very slow to start, and when it appeared the property was not going to sell the auctioneer assured the packed auction room that there were certainly buyers in the room. His persistence paid off with an opening offer of €100,000, which was slowly followed by 19 bids from three bidders before the property eventually sold for €136,000
After the auction Don Colleran said the auction results highlighted the demand for city centre properties. Mr Colleran is currently offering free property appraisals for anyone thinking of selling.
For more information contact Colleran auctioneers at 091 562293.
