Last Friday at the Radisson Blu Hotel, DNG Maxwell Heaslip & Leonard continued its success on the auction floor with a six-lot auction that produced a swift hour of action and intense bidding. With an auction room full of bidders who were not afraid to bid, an air of decisiveness prevailed from the first bid and prevailed through to the final lot as bidders were keen to participate.
Commenting on the auction, auctioneer James Heaslip said: “We knew that a number of lots today would attract a lot of interest and draw large crowds. We’ve had a lot of experience lately in the sale of agricultural land and we have achieved some excellent results and today was no exception."
The first lot of the day set the scene and the swiftness and intensity of bidding was sure to have surprised any first time auction-goers, however it was a mark of the intent of those determined to show their hand. Bidding opened at the AMV of €100,000 for Lot 1, land consisting of c2.27 acres at Rosshill, Galway, with low density zoning, followed by a second bid of a huge €150,000, much to the surprise of the auction room. This bid was answered with bids in €10,000 and €5,000 increments until a jump to €200,000 was a sure sign of one bidder's intent. This pattern of bidding continued until the final sale price of €270,000 was reached and auctioneer James Heaslip lowered his gavel to much applause from the assembled crowd. Fourteen bids and a mere five minutes is all it took to see this piece of land achieve over two and a half times its AMV.
Land in Rosshill, consisting of c12.3 acres of agricultural land, was the last lot of the day and an air of anticipation was evident in the room as auctioneer James Heaslip beckoned to the crowd to open the bidding, which one bidder duly did at €155,000. With a number of bidders involved stationed in various areas of the room, the team of spotters were kept busy ensuring that all bids were registered. A plethora of sharp and consistent bids saw the price rise quickly in €5,000 increments until the €250,000 mark, at which stage the bid increased to €260,000. The next bid saw a break in the trend of bidding and a substantial rise in stakes as the price jumped to €300,000, this bidder surely wanting to make his mark. Unperturbed, the other bidders continued with a further seven bids, seeing the gavel finally drop at a sale price of €340,000, just over double the AMV.
Commenting on the prices achieved, selling agent Alan Maxwell MRICS MSCSI said: “We are delighted with the prices achieved for the land. Almost €30,000 per acre for agricultural land is a fantastic result. We have had great success in the sale of land recently and today was no exception.”
The company also sold land in Ballybrit late last year which included 3.1 acres of zoned residential land with the remaining circa 1.4 acres zoned agricultural and high amenity. Sold at auction, this land guided €450,000 and sold for €1,010,000, a reflection of the appetite in the city for zoned land.
Other properties in the auction included a semidetached property at No 12 The Close, Cappahard, Ennis, which also enjoyed an intense amount of bidding with numerous bidders vying for the prize. Guiding at €65,000, this property saw the hammer fall at €115,000. Meanwhile No 26 St James Crescent, a four bed semidetached house in Renmore, sold for €140,000.
All auction results are available on dnggalway.ie DNG Maxwell Heaslip & Leonard will hold its next auctions on June 9. For further information contact the auction team on 091 565261.
