Investors out in force as block of 17 apartments in Spiddal sells for over €1m

A property auction held in Galway at the weekend achieved more than €5.3 million in sales.

The highlight of the O’Donnellan & Joyce catalogue was a block of 17 apartments in Spiddal, which went under the hammer for €1,005,000 – more than double its Advised Minimum Value of €440,000.

The one- and two-bed apartments at Bruach na hAbhainn are in the centre of the village and are described as being in ‘turn-key’ condition. Five of the apartments are rented, while the rest are vacant. There were a total of 110 bids on the apartment block.

At Frenchpark in Oranmore, auctioneer Colm O’Donnellan described four apartments – being sold as one lot – as being “an ideal investment opportunity for one lucky bidder”. Two of the apartments are rented.

“Value for money was evident across all lots, with notable interest in Galway City and county as well as counties Mayo, Roscommon and Limerick,” said Mr O’Donnellan.

In the heart of Galway City, there was strong interest in a property located directly across from the main NUI Galway campus, 19 Presentation Road, a four-bed semi-detached property with “guaranteed rental potential” sold for €230,000.

A two-bed terraced home in the city centre at Court Avenue, Woodquay, received considerable interest, with the hammer finally falling at €130,000.

No 63 Foster Court, a semi-detached property, prompted an intense bidding war and eventually sold for €335,000.

“Bidders were clearly enticed by its potential as either a family home or a guaranteed rental opportunity,” said Mr O’Donnellan.

The suburb of Renmore proved its status of one of Galway’s most sought-after addresses, with 212 Lurgan Park, a lovely three-bed semi close to GMIT and Merlin Park hospital, selling for €190,000. 78 Dun na Mara, an 3/4-bed property finally sold for €277,000.

Two apartments in Gleann na Rí – just minutes from the GMIT campus – sold for €86,000 and €80,000. In the neighbouring suburb of Doughiska, 73 Fearann Rí, a four-bed semi, sold for €106,000.

No 37 Ardcronan in Balla, Co. Mayo – 15km outside of Castlebar – a three-bed semi, was bought for €62,000.

In Roscommon, 33 acres of agricultural land at Carrandoe Bridge, was sold for 52,000.

In the Limerick city suburb of Raheen, a modern four-bed apartment with tenant in place was sold for €90,000.