More than €3.6 million in sales of residential and commercial properties was achieved at the O’Donnellan & Joyce ‘Wild Atlantic Way’ auction.
A total of 48 properties along the Western seaboard were sold last Friday.
Auctioneer Colm O’Donnellan said residential properties – particularly in Galway City – sold well on the day.
“We were delighted with the tremendous results achieved on the day, particularly throughout Galway City where there were a large number of home buyers and investors bidding intensely in order to acquire properties in the city area.”
More than 500 people attended the auction in the Harbour Hotel in the city.
The highlight of the day was a derelict cottage at Ardfry in Maree, just 5km from Oranmore village. It stands on a 0.8-acre site overlooking Galway Bay.
“The location alone made it the jewel in the auction collection,” said Mr O’Donnellan.
With an Advised Minimum Value of €80,000, three phone bidders and two in-house bidders battled it out to take ownership of what Mr O’Donnellan described as an “excellent development opportunity”. Finally, it was one of the phone bidders who claimed it, with a price tag of €230,000 – almost three times the AMV.
The first property to be auctioned was 15 Arasáin na Mara, Salthill, a 3-bed apartment, which attracted 12 different bidders. Bidding commenced at €150,000 and increased in increments of €5,000 with bids coming from all over the room. The hammer fell at €247,000, which was €87,000 above the reserve price.
93 Ballinfoyle Park on the Headford Road in Galway. The property opened at €70,000 and attracted five bidders, before eventually selling for €150,000.
Bids opened at €110,000 on a commercial unit in Moycullen with an apartment overhead, which sold for €285,000 – €165,000 over the AMV.
In Mervue, 25 Cardinal Cushing Road went on the market quoting €115,000 and needing a bit of work and it eventually sold for €175,000. 4 Emmet Avenue, a 3 bed mid-terrace home in mint decorative order and ready to walk in to, opened with a bid at €150,000 and sold at €165,000.
Also another opportunity for a first home at 67 Duirling in Roscam quoted €200,000. Bids opened at €180,000 for this attractive 3 bed semi-detached and the hammer dropped at €218,000.
In Knocknacarra, where 39 Portacarron on the Ballymoneen Road – a 4-bed semi with converted attic, sold after auction for €220,000 to excited first-time buyers.
For more, read this week’s Connacht Tribune.
Privacy in the heart of the city
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 email@example.com
Bearna site offers enormous potential
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.
Small fall in house prices
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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