Online Galway auction provides bidding war
The huge demand for accommodation saw sales in excess of €4 million at an online auction of Galway properties last week.
All 25 properties to come under the hammer were sold. Apart from properties across Galway, there were also houses and business premises from Mayo and Sligo on offer with substantial six figure sums being the order of the day.
The auction, conducted by O’Donnellan and Joyce, was broadcast live with bidders competing online and by phone from across Ireland and abroad and included a portfolio of seven former state-owned buildings.
Among them was the former Garda Station in the North Galway village of Ballymoe which sold for €90,000 – well ahead of the predicted €50,000 valuation.
The station has been closed for more than 20 years; at roughly 400sq ft, it includes an office area, along with kitchen and toilet facilities. The site is just over quarter of an acre.
Located on Main Street, this building was deemed surplus to requirements by the Gardai back in 2013, along with 139 other Garda stations around the country identified as “no longer required for operational purposes”.
The identity of the new owners has not been revealed but it is expected to be transformed for residential purposes in the village.
Top price of the day was for a three-storey building at 60 Main Street, Loughrea which sold for €420,000.
Auctioneer Colm O’Donnellan said that the Loughrea lot provided one of the day’s most hotly contested bidding wars, with multiple parties driving the price up before the hammer finally fell at €420,000.
“The result highlights the strong demand for well-located town centre properties with potential for mixed-use or redevelopment,” he said.
Meanwhile, in Aughrim, the former health centre achieved a remarkable €145,000, reflecting investor appetite for former public buildings with scope for repurposing.
Elsewhere, 156 Castlelawn Heights, Headford Road, Galway was sold for €340,000 while 65 Cartur Mor, Clybaun Road, Knocknacarra was sold for €350,000 while 76 Woodfield, Galway Road, Tuam was knocked down for €224,000
Colm O’Donnellan described it as ‘one of the most exciting auctions we’ve seen in years’.
And he said the results show both the strength of the market and the power of the auction platform.
“We are absolutely thrilled with today’s results. Achieving over €4 million in sales in a single auction demonstrates both the depth of demand and the trust clients place in our platform,” he said.
“The strong prices secured, particularly for standout lots, underline the confidence in the market for both residential and commercial properties.”
He added that the auction once again highlighted the strength of O’Donnellan and Joyce’s livestream format, which he said brings urgency, transparency and accessibility to buyers nationwide and abroad.
Pictured: Sold...the former Garda Station in Ballymoe.