Business
O’Donnellan & Joyce planning next auction
“When is your next auction?” is the big question from callers to the offices of O’Donnellan & Joyce’ over the past few weeks.
The company say that the massive success of their 2014 auctions seems to have left no doubt in the minds of most vendors that if you want to sell your property in a reasonably short length of time the auction route is the way to go.
An auction is an efficient and cost effective way of selling property and, if prepared properly with intensive marketing, advertising and mailing, will result in the greatest possible exposure of the properties offered.
To maximise the effectiveness of the marketing, considerable thought must be given to the guide price, which needs to be tailored to generate competitive bidding in the auction room, thus ensuring that the best price is being achieved.
Selling by auction however, offers a high degree of certainty that a sale will be achieved on a given day and, significantly, on the fall of the gavel an immediate binding contract is formed.
There is the added advantage of the sale being entirely open and transparent. As no further negotiation is permitted the entire sale process, from instruction to exchange of contracts, is achieved within as little as six to eight weeks.
Most types of property are suitable for auction provided that a realistic reserve price is agreed. Auction is now regarded as the optimum method of sale for sellers, ranging from executors, receivers, private investors, owner occupiers and banks.
Once a property sells at auction the owners can go forward in the knowledge that their property is sold and can therefore bid or buy on another property if they wish to do so.
O’Donnellan & Joyce say their auction process is unique. The company have always been synonymous with auctions in the west of Ireland – however they are now rated as one of the best auction houses in the country.
“The areas covered range from Donegal to Limerick and Clifden to Mullingar with enquiries coming in from Dublin and further afield asking if we would facilitate sales in those areas,” said Colm O’Donnellan.
“Despite the fact that O’Donnellan & Joyce sell a large number of properties for lending institutions the majority of the auction properties are still privately owned homes and investment properties.”
The first auction of the year which will take place on Friday, March 6, promises to have a wide selection of properties both commercial and private.
Already set to go under the hammer are commercial properties in Furbo. Ballybane. Ballinalsoe and Limerick. Private sales will include properties in Mervue, Ballybane, Clarinbridge, Clifden, Glinsk and Carna in Connemara together with lands in Craughwell and Clarinbridge among others.
The cut-off date for the March auction is Friday, February 6, so it is envisage that by then the list will have grown.
For more, read this week’s Connacht Tribune.
The new President of Local Ireland, the association representing local news publishers around the country, is Head of Irish Times Regionals Dan Linehan.
Mr Linehan takes over the presidency from Declan McGuire of the Connacht Tribune. His appointment was confirmed at the recent Annual General Meeting of Local Ireland at Bloomfield House Hotel near Mullingar, Westmeath.
Mr Linehan, who has served as Vice President of the organisation for the last two years, said: “The coming years are a very important time for local publishers with many important issues to be addressed, including the implementation of the Future of Media Commission recommendations, defamation reform, the role and support for local publishers in public service reporting and helping publishers develop commercial digital offerings.”
Speaking at the AGM, Mr McGuire acknowledged the work done by the Executive in the past two years under the direction of Executive Director, Bob Hughes, on several projects related to the publishing industry but most especially the successful conclusion of the long-running campaign for the abolition of VAT on newspapers.
He also wished Mr Linehan the very best in his new role as President of the association for the next two years.
Mr Hughes thanked Mr McGuire for his leadership and support during his term of office and said he looked forward to working with Mr Linehan on the key policy priorities for the association, including Government supports, Government advertising, fair remuneration for content from the tech platforms and the reform of the legislation for defamation.
Local Ireland members also elected Seán Mahon, Managing Director of the Southern Star, as Vice President for the next two years.
The shortage of affordable housing is the single biggest impediment in attracting and retaining workers in the West, according to business group Ibec.
At a ‘Regional Insights Series’ meeting in the Galmont Hotel in Galway last week, employers were told that capacity constraints and labour supply are the key challenges facing business growth in the region.
Ibec Head of Regional Policy Helen Leahy said: “There must be greater focus by government on enhancing quality of life issues such as housing and infrastructure which are driving labour shortages in the region.
“Ibec’s vision for the West is to realise its potential to become a globally competitive location. An inadequate supply of affordable housing is now the single largest impediment to attracting and retaining talented workers, without whom business investment and expansions are not possible.
“Labour shortages are a real concern for businesses in the region. People decide where to live and work based on quality of life and access to high quality services and amenities. Industry tends to follow talent, and in this regard, the region needs to have all the building blocks in place as the attraction and retention of world-class talent becomes increasingly competitive on a global level,” said Ms Leahy.
Amongst Ibec’s priorities for the West are:
- Addressing housing and infrastructure challenges
- Transitioning towards a new growth model with Net Zero energy powered by Atlantic offshore wind resources
- Adapting businesses to the new economic realities
- Enhancing capacity and skillsets to achieve sustainable development objectives
- Investment in people and skills
- Creating competitive advantage through digitalisation
- Innovation as a key driver of productivity growth
One in five Galway businesses want to go fully cashless, as the move towards card payments and tapping continues unabated post-Covid.
In all, 22% of Galway businesses would like to be fully cashless, according to a survey carried out by BOI Payment Acceptance (BOIPA), a provider of payment technology solutions, which asked Irish businesses about the current payment landscape as well as business confidence and concerns.
Over one-third (36%) of Galway businesses were unaware there is no contactless limit on mobile wallets – just below the national average – while 54% believe the increase in card over cash transactions has helped them run their business.
Six out of ten Galway businesses expect to grow this year despite the cost-of-living crisis and running costs dominating as key concerns; 62% believe their business will grow over the next twelve months despite global economic uncertainty.
Unsurprisingly cost-of-living increases and running costs were the main concerns the majority of businesses had.
For more, read this week’s Connacht Tribune.
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