Summer Auction Success for IAM Sold

Posted on 2nd August 2016 by Shauna Forde

Property Auction specialists IAM Sold held their last summer auction on Thursday July 21st in The Clarion Hotel, Dublin. This was the final auction in a busy 9 week period for the company who held 6 auctions across Leinster, Munster and Connacht this summer – the largest volume of multi-lot auctions held by any company in Ireland during this period. As part of the last auction event, the auction team offered a specialised Holiday Home Auction which included holiday home property from across Ireland including Cork, Kerry, Wicklow, Donegal and Cavan. This holiday home auction was the first of its kind in Ireland and the auction team undertook a huge marketing campaign both nationally and internationally to attract the widest possible audience. Indeed attending the auction were a large mix of international buyers along with a significant number of Irish interest.  Interest in the properties was registered North America, Germany, UK, Dubai and elsewhere.

First up to the podium was The Connacht Property Auction held in The Menlo Park Hotel, Galway on May 19th and the again on July 7th. Some for the properties sold by the Connacht auction team included a 4 bedroom semi-detached house in need of full refurbishment was sold in partnership with O’Malley Properties. Quay Hill, Westport had a number of parties note their interest early on and the auction team noted there were enquires from local buyers and also from elsewhere in Ireland. Over 57 bids were received on the property, finally being agreed at €169,500 – well above the quoted price of €139,000. Elsewhere, No. 25 The County, Bridge St, Carrick-on-Shannon received strong interest and was sold in partnership with Bernadette Gallagher Auctioneers. The one bed apartment had significant interest from both investors and holiday home buyers and was successfully sold after some brisk bidding for €42,500.  Among the lots offered on July 7th were two high demand properties in Galway City. 17 Doughiska Road, Galway included a 6 bed detached property sold offer for sale in partnership with Property Partners Emma Gill. The property received significant interest and was sold for €360,000. While 40 Glenview Drive, Riverside, Galway was offered for sale in partnership with Padraic Davis Auctioneering. Again viewings were high on this property from owner occupiers in the lead up to the auction and sales were agreed for at €300,000 to a delighted new owner.

Doughiska Rd

The Munster Property Auction followed closely and another two summer auction were held on May 26th and July 14th in The Rochestown Park Hotel, Cork. The auction team offered a broad mix of commercial properties, family homes and holiday homes at both auction events. Properties included an extensive commercial property in Thurles, Co. Tipperary which was offered for sale in partnership with P.J. Broderick & Co Auctioneers. This was one of the busiest lots of the night on May 26th with strong bidding from a number of parties seeking to secure this property. After over a twenty bids this popular lot sold for €62,000. While in Limerick, 4 apartments in a block sold at 15A, 20, 20A & 21 Thomond Student, Village in partnership with Rooney Auctioneers, Limerick. Bids came in at €60,000 initially but it was obviously there were a number of parties keen to secure these investments. Bidding reached €100,000 before the hammer feel to one of the numerous investors at the auction. In the July auction, a fire damaged property at Ocean View, Kinsale, Co. Cork with views over Kinsale Bay was offered at bids over €750,000. With high demand in this area, interest was high and the property successfully sold for €850,000 in partnership with James Murphy & Co Auctioneers. Elsewhere, a 4 bed detached bungalow in Castlelyons, Co. Cork which was sold in partnership with Property Partners Dick Barry & Son. This well priced property received a huge volume of enquires in the lead up to the auction and sold for €106,000 to a bidder at the event.

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Finishing this impressive run of auctions was The Leinster Property Auction taking place on June 2nd and July 21st in The Clarion Hotel, Dublin. A popular lot for the auction team was a 3 bed terrace house in Terenure, Dublin 6, which was offered for sale in partnership with Vincent Finnegan Auctioneers. No. 1 Eagle Hill Avenue, Terenure was offered to the market in need of refurbishment and the property had brisk bidding from a number of parties. Bidding reached €330,000 to a delighted new homeowner. Elsewhere in Kildare two apartments needing refurbishment plus an unfinished retail unit in Furze Hall, Maddenstown were sold for €100,000 in partnership with Kelly Hudson Properties. While in Donedea, Kildare a 5 bedroom home with land surrounding sold for €375,000 in partnership with Remax Team Lorraine Mulligan.

Eagle Hill, Terenure

Bringing the run of auctions to a close was the Holiday Home Auction held on July 21st in Dublin. Some of the more popular lots on the event were a 4 bed detached house in Wicklow which was sold in partnership with Kinsella Estates. The property in Coolattin Gardens, Shillelagh received interest both locally and also from international buyers and was sold for €202,000. While in Cork, No. 9 Kinsale Holiday Village was offered to the room in partnership with James Murghy & Co. Auctioneers and after some brisk bidding from a number of parties seeking to secure the property it was successfully sold for €176,000.

The final lot was a 4 bed detached residence with 11 acres of land in Cloghane, Co. Kerry which was sold in partnership with Fitzgerald & Associates. This property proved to be an extremely popular, receiving over 100 enquiries in the lead up to the auction event. Bids came forward briskly with several different parties raising their hand to bid while there was also phone bidding from buyers based overseas. The auction team truly had saved the best for last and after 60 bids which opens at €50,000, the hammer finally came down at €170,000 to a delighted bidder in the room.

The results to date this year give the highest success rates of any property auction company in Ireland at 88% sold for the year to date. The auction team have 6 further auctions before the year end and Director of IAM Sold Patrick Folan stated that they plan to continue their high success rate and the auction team and now working with properties owners who are looking to sell at the upcoming auction events. The next auction dates are Connacht on September 22nd, Munster on September 29th and Leinster on October 6th.

 

 

 

 

 

 

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