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Auction nets €3m worth of property transactions

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Upper Newcastle, Galway

Almost €3 million worth of property sales were recorded at the latest O’Donnellan & Joyce ‘Wild Atlantic Way’ auction at the weekend.

Auctioneer Colm O’Donnellan said there was “tremendous interest” in the auction, with standing room only.

“Prospective owner occupiers and investors were given a superb selection of property to choose from, especially in Galway City. Bidding was fast-paced,” he said.

The highlights of the afternoon were both properties in Newcastle, just a stone’s throw from NUI Galway and University Hospital.

23 Newcastle Park, a detached five-bed house (with a study that could be used as a sixth) which would make an ideal family home and an excellent investment opportunity because of its location, had an Advised Minimum Value of €400,000.

There were two interested parties, and bids increased in increments of €5,000 before it sold for €440,000.

22 Upper Newcastle Road also has a fantastic location, and offers 6/7 bedrooms over three floors. The mid-terrace property also has the potential to generate up to €38,000 per annum in rent. The guide price was €330,000 and there were two interested parties. It sold for €10,000 above the AMV.

Also sold on the day was a two-bed townhouse on Bridge Street in Ballinasloe in ‘The Oat Gallery’. The AMV was €19,000 and it sold for €27,000 to an investor.

A three-bed apartment at the Station House development in Clifden had an AMV €65,000 – it attracted 29 bids from three separate parties and sold for €101,000.

A modern two-bed apartment adjacent to the Shearwater Hotel sold for €43,000, €3,000 over its AMV.

In Ahascragh, a bungalow in need of modernisation, which had an AMV of €65,000 did not reach the reserve price, bot sold after the auction for €61,750.

On Main Street in Ballinasloe, a ground floor retail unit with a two-bed apartment overhead was sold with tenants in place.  Bidding opened at €45,000 and rose in €5,000 increments to €75,000. The AMV is €60,000 and it generates €650 per month in rental income.

For more, read this week’s Connacht Tribune.

CITY TRIBUNE

At home in Salthill’s ‘secret garden’!

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Lenaboy Park has often been described as Salthill’s secret garden, located just a short three-minute walk to the famous Promenade.

It was once part of the original gardens of Lenaboy Castle on Taylor’s Hill. Access is through large black gates situated between the former Warwick Hotel and Care Pharmacy/Morton’s Supermarket in Lower Salthill.

Upon entering, there is a beautifully, landscaped park in the centre of the development, surrounded by a mixture of homes. No 22 is ideally located in a small quiet cul de sac with pedestrian access to the neighbouring Emerson Avenue.

A large, detached home built in the 1940s, this home contains many original features including some original fireplaces, solid timber floors, decorative coving and the original timber stairs. The unique character blends the modern interiors with the historic past and this is evident throughout this family home.

Outside the large garden is a rare find and benefits from having two large apple trees that likely pre-date the property itself. The rear boundaries are clearly defined by a mixture of block walls and timber fence.

To the front of the property, a pedestrian gate opens onto a path and there is a lawn either side with mature shrubbery.

The accommodation comprises of four reception rooms downstairs, a drawing room, living room, sitting room and large L-shaped kitchen/living/dining room. One of these rooms could be used as a downstairs bedroom if required. A shower room completes the downstairs accommodation.

Upstairs, there are three further bedrooms, the main bathroom and a walk in hot-press. An attached garage is to the side of the house for all your storage needs.

The asking price is €835,000. For further information or for viewing, contact Sherry FitzGerald on 091 569123.

 

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Connacht Tribune

Final phase of hugely popular development set to go on sale

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The showhouse at Gort na Fuinse in Headford will be open this weekened.

The new homes market traditionally re-emerges after the summer holidays and this weekend the final phase of houses at Gort na Fuinse in Headford are being released for sale.

The development provides potential purchasers with an opportunity to choose from the 15 remaining 3- and 4-bedroom semi-detached houses.

Since construction commenced in late 2021 on the 70 houses, a significant number of people have now moved into their new homes.

Due to exceptional demand, the previous phases sold out in record time, with agents Lydon Farrell Property reporting that they recently paused sales to facilitate the construction team with the opportunity to catch up with the strong sales momentum.

Gort na Fuinse offers a mix of three and four bedroom contemporary semi-detached houses with prices ranging from €300,000, with four house types. This exclusive new development represents the ultimate in construction standards and it is the first new scheme north of Galway City in some time.

For more, read this week’s Connacht Tribune.

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Connacht Tribune

Online auction platform records 22% increase in number of homes for sale

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Ballinfoile Park, Galway: sold for €27,000 over the guide price.

Online bidding platform iamsold, which is used by over 300 auctioneers nationwide, has noted a 22% increase in stock for sale during the past month.

During the month of August and into September, the company noted an uptake in vendors and agents using their online bidding platform. Additionally, the company noted a sharp increase in listings in recent weeks particularly in late August and increasing further into September.

Shane May, Sales Manager for iamsold, said: “We are seeing the level of enquiries ramp up a little more as we head out of the holiday season. We expect enquiry levels to continue to increase as we head into late September and October where the buying pool is generally more active.

“There are some concerns on how inflation and interest rate hikes will affect the market overall and September will be telling in terms of overall market confidence. We do expect good interest in properties during September and expect a busy month of sales ahead.”

Last week, iamsold along with many of their partner auctioneers, experienced a flurry of sales via the online binding bids platform, and are now taking entries for upcoming auction on October 13 and November 17.

One of the recent sales was a three-bed terraced property at No 70 Ballinfoile Park in Galway City, with tenants in situ. The property was offered to the market at bids over €160,000 and had strong interest from investors looking for a good rental yield. The property, which is ideally located within walking distance of the city, was successfully sold for €187,000 to a delighted new owner.

■ For further information, visit iamsold.ie or call 091 882121.

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