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All-day auction nets over €9m

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12 Presentation Road, Galway

More than €9 million worth of property sales were recorded at a packed auction in Galway last week.

Around 700 people were in attendance for when 70 properties went under the hammer at the all-day O’Donnellan & Joyce ‘Wild Atlantic Way’ auction.

Properties right down the western seaboard from Donegal to Galway and on Kerry.

Auctioneer Colm O’Donnellan said: “There was a huge amount of interest both locally, nationally and internationally in the Wild Atlantic Way auction, with incredible interest in properties in Galway City.”

One of the highlights of the day was 12 Presentation Road, a three-bed, canal-side property in the city centre which had remained in the same family since it was built 91 years ago, which sold for €515,000 – the Advised Minimum Value was €400,000.

Number 3 Averard East on Taylor’s Hill – a large detached family home in an exclusive residential area – saw bidding opening at €720,000 and quickly rising to €810,000 with three parties chasing the property. The AMV was €750,000.

‘Penrose’, 46 Dalysfort Road, a three-bed bungalow on a substantial site in Salthill, attracted exceptional interest with a reserve price of €475,000. There were 90 bids in a period of five minutes and it sold for €565,000.

“There were a lot of first time buyers in the auction audience on the day and a very nice house at 7 Coleman’s Road in Shantalla, a four-bed mid-terrace, reached €320,000 where we were hoping to get between €240,000 and €250,000 for it. Another starter home at 2 Castleview Court in Ballybrit was guiding €150,000 and sold for €184,000,” said Mr O’Donnellan.

A modern three-bedroom detached home with large-west facing rear garden at 44 Friars Hill on Bishop O’Donnell Road was sold in the morning auction. The bidding opened at €190,000, rose quickly in small increments, with the hammer falling at €240,000.

Two city centre houses on Henry Street, close to bars and restaurants ‘back the West’ had a number of interested parties chasing them. No 25, which is in need of renovation was guiding €75,000 and sold for €122,000. Across the street, No 34 is in excellent condition and had an AMV of €197,000, but sold for €242,000.

Investors were also quick to pick up on the excellent value on offer around the city.

A modern 3-bedroom duplex apartment located at 7 Na Creaga on the Monivea Road with an AMV of €100,000 sold under the hammer at €118,000.

A block of 4 apartments at Mullan Mór on Tuam Road sold for €569,000 and a large house on College Road with planning for four luxury apartments and guiding at €395,000 sold for €410,000.

Connacht Tribune

Privacy in the heart of the city

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3A Coolagh Road exterior

A secluded family home in the heart of the city – with every facility on the doorstep; that’s what is on offer at 3A Coolough Road, which Sherry FitzGerald has just brought to the market for sale by private treaty.

This is a perfect three bed semi-detached home, located in a mature quiet area in a much sought-after location – within walking distance of Menlo Park Hotel, Terryland Retail Park, local shops, schools, NUI Galway, UHG and Galway city centre.

On entering this home, you will see that if offers spacious accommodation throughout and has an extensive side garden.

Accommodation on the ground floor comprises entrance hall, guest wc, living room with large bay window and gas stove, separate dining room and spacious kitchen/dining room with door to rear garden and boiler house.

Upstairs there are three large bedrooms with fitted wardrobes and main bathroom.

Externally the gardens are mainly laid to lawn with block wall boundary. There is also an extensive side garden with tarmac drive.

Overall, this property would make a wonderful starter home or an excellent investment opportunity and we recommend viewing today.

Asking price is €305,000.  BER D1, BER No. 114542244. Size 96 sq. m/1037 sq. ft.

Viewings by appointment with Rachel O’Dowd, Sherry FitzGerald, One Galway Central, Forster Street, Galway 091 569 123 / 087 3493363 or email galway@sherryfitz.ie

 

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Connacht Tribune

Bearna site offers enormous potential

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CBRE’s Darragh Deasy... superb opportunity.

A prime site has come on the market just 350 metres north of Bearna village – complete with planning permission for 40 residential units.

CBRE have been instructed by Receiver Myles Kirby of Kirby Healy Chartered Accountants to offer this superb residential development opportunity to the open market.

The site – for sale by Private Treaty with a guide price of €4m – is  situated to the north of the current Thornbury residential development, along a quiet laneway which connects to the R336, one of the main arterial routes to Galway city.

It extends to approximately 4.58 acres and has the benefit of planning permission for the delivery of 40 residential units, comprising a mix of housing and apartments.

The 22 housing units are all semi-detached and terraced units and range in sizes from 112 – 130 sq. m.

There are also additional lands included within the land holding that do not form part of the permitted scheme and have significant development potential, subject to planning permission.

This portion of the site is zoned R2 under the County Development Plan, which requires that 50% of the permitted scheme are committed to development.

This is a superb opportunity to acquire a residential development site with planning permission in place, in a highly sought-after location on the outskirts of Galway City.

CBRE’s Darragh Deasy described it as ‘a fantastic opportunity to acquire a residential development site in Bearna, a highly sought-after residential location’.

“The permitted scheme will appeal to a wide range of parties, and there is further opportunity to develop further units on the additional lands, subject to obtaining planning permission,” he said.

 

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Connacht Tribune

Small fall in house prices

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Conall MacCoille...grim picture for homebuyers.

Property prices in Galway have bucked the national trend by falling during the quarter, according to the latest MyHome.ie Property Report.

The report for Q4 2021, in association with Davy, shows that the median asking price for a property in the county fell slightly by €25,000 over the quarter to €259,975. However, this still means prices have increased by €9,975 compared with this time last year.

Asking prices for a three-bed semi-detached house in the county rose by €6,000 over the quarter to €245,000. This means that prices in the segment have risen by €10,000 compared to this time last year.

Meanwhile, the asking price for a four-bed semi-detached house in Galway stayed steady over the quarter at €285,000. This represents a year-on-year decrease of €3,000 in the segment.

There were 797 properties for sale in Galway at the end of Q4 2021 – a decrease of 15% over the quarter.

The average time for a property to go sale agreed in the county after being placed up for sale now stands at just over four months. In the city, it is just over two months.

The author of the report, Conall MacCoille, Chief Economist at Davy, said that, nationally, the findings of the report painted a grim picture for prospective homebuyers.

For more, read this week’s Connacht Tribune.

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