Auction nets €6m in sales

O’Donnellan & Joyce Auctioneers achieved sales totalling €6 million in their latest auction of properties along the Western seaboard.

Colm O’Donnellan said that while there was huge interest in properties in the city and Salthill, the big surprise of the day was a six-acre plot of land in Spiddal.

“As usual there was huge interest in Galway city and county properties, with family homes in Salthill at 6 D’Alton Drive and 22 Oaklands both selling for €475,000 and the hammer fell on the sale of 15 Ard na Mara at €400,000,” he said.

Highlights of the city centre property sales included a ‘fixer-upper’ at 31 Nuns Island.

“It attracted great interest, with four minutes of intense bidding, which brought the price from an opening bid of €170,000 to a final sale price of €245,000. Also, a two-bed apartment at 3 Drom Ard, just off Prospect Hill, sold for €176,000.

“The big surprise of the day, though, was a six-acre plot of land in Spiddal village, which had a guide price of €120,000. Two parties battled to buy the property, with intense bidding over a six-minute period, before it was finally sold for €310,000,” said Mr O’Donnellan.

Among the properties sold were:

1 Millrace House, Chapel Lane, Tuam. A ground floor commercial unit currently trading as the National Schoolwear Centre had an Advised Minimum Value of €75,000 and bidding opened at €70,000, before selling for €105,000.

5 Ardskeabeg, Corofin. A spacious five-bedroom bungalow in Corofin village, extending to 2,600 sq.ft and standing on a 0.5-acre site. Bidding opened at €140,000 with two bidders quickly bringing the sale to a conclusion at €165,000.

16A Sandyfort Business Park, Bohermore. A ground floor office unit with tenants in place generating €15,000 per annum and with three underground parking spaces. Guiding at €75,000, bidding was intense with three chasing the property in €5,000 increments, bringing it up to €169,000.

Bridge Street, Athenry. A takeaway restaurant with two apartments overhead. Generating an overall rental income of €21,000 per annum and sold with tenants in place, bidding opened at €160,000 with a phone bidder and an auction attendee both pursuing the bids in €5,000 increments. The phone bidder secured it at €200,000.

Turoe, Bullaun, Loughrea. A traditional style bungalow located close to Bullaun village had bids commence at €50,000. The AMV was €60,000 and bids rose steadily in €1,000 increments with €66,000 being the winning bid.

3 Plunkett Avenue, Mervue. Ground floor retail unit formerly used as a doctor’s surgery with an AMV of €75,000. The opening bid was €70,000, which was below the reserve but the purchaser promptly offered the asking price and the property was sold for €75,000.

3 Chapel Court, Chapel Lane, Tuam. A ground floor commercial unit suitable for a variety of uses had two strong bidders on it. Bids opened at €30,000 and the sale concluded at €40,000, the AMV.

For more, read this week’s Connacht Tribune.