Mulcahy is appointed to Youbid.ie’s Limerick office

Youbid.ie has appointed chartered surveyor Tomás Mulcahy to its Limerick-based team to help drive growth in the online property auction portal.

Mulcahy returns to his native city after living in Dublin for work and college for several years.

He graduated from Technological University Dublin in February 2019 with an MSc in Real Estate after previously graduating with a BA in English and Geography from Mary Immaculate College in October 2017.

He joined JLL in September 2018, where he initially worked in the Office Tenant Representation division, later moving to the Office Agency department. He undertook his APC Assessment to become chartered, which he passed in March 2021.

“I am delighted to welcome Tomás, who is joining at an exciting time for the company and the online property auction sector”, said Youbid.ie director Michael O’Connor.

“With his enthusiasm, energy and experience within the property industry to date, I could not be happier to see Tomás joining the Youbuid.ie team.”

With offices in Limerick, Dublin and Cork, Youbid.ie has experience in all aspects of residential and commercial property services for private, corporate and multinational clients.

The digital property platfrom for live and online auctions nationwide was created in May 2020.

While the initial strategy was to hold online auctions to assist in selling the unsold lots from in-room auctions, the Covid-19 pandemic proved to be a boost for the business model and Youbid.ie developed into a monthly online auction.

Hundreds of properties have been sold on the platform since then, with a success rate of over 96 per cent and average prices more than 21 per cent above reserves.

Full article available on the Sunday Business Post https://www.businesspost.ie/commercial/mulcahy-appointed-to-youbidies-limerick-office-ba45e056

National online auction platform Youbid.ie has appointed Brigid Downes as Associate Director.

Ms Downes has more than 10 years’ experience in the property auction industry and has contributed significantly to the success of Youbid.ie – a division of Limerick estate agents O’Connor Murphy – since its launch last May.

Brigid Downes Associate Director of Youbid.ie
Brigid Downes, the new associate director at YouBid, has contributed significantly to the success of the platform since its launch last May. Photo: Horsfall Photography

She has worked for almost seven years with the company, which also has offices in Cork and Dublin and last year announced a strategic commercial partnership with QRE Real Estate Advisers.

The Limerick native studied Business and Tourism at Limerick Institute of Technology before sitting IPAV exams at Cork Institute of Technology.

“At the beginning of 2020, our strategy was to hold six public auctions which would be followed by an online auction to assist in selling the unsold lots from in-room,” said Ms Downes.

“However, due to the Covid-19 pandemic we re-branded to Youbid.ie and changed our strategy to monthly online auctions.

“Since its launch the platform has been very successful, and we have offered 321 properties for sale over the course of eight auctions.

“We have achieved an 83% success rate, with average prices exceeding 14% above reserves.

“The highlights include a group of six apartments at Mill Falls, Newcastle West, Limerick, which received 144 bids and sold for €423,000, 68% above its reserve of €291,000.

“Another success was 3 The Dunes, Dunfanaghy, Donegal which had a reserve €95,000, but sold for €231,000 – almost two and a half times its reserve – after 135 bids.

“In Dublin, 81 and 82 North Strand Street had a reserve of €360,000, but after 245 bids they sold for €606,000.

81-82 North Stand Street in Dublin sold for €606,000

“And Units 3 and 4 in Westlink Business Park, Clondrinagh, Limerick, had a reserve of €150,000, but sold for €451,000 after 169 bids.

“We are looking forward to a busy 2021 and have plans for 11 monthly online auctions, with the first taking place on Thursday, February 18.”

Ms Downes said she looks forward to playing her part in the continued success of O’Connor Murphy and youbid.ie, which represents “an exciting new era” in the Irish property market.

“With her wealth of experience within property and specifically the property auction industry, I could not be happier to appoint Brigid as Associate Director of youbid.ie,” said Michael O’Connor, CEO of O’Connor Murphy.

“We look forward to continued success in 2021 for youbid.ie.”

Properties for the February 18 auction are listed on the platform. Documentation and brochures are available by registering on Youbid.ie or by calling 01-5676979. Email info@youbid.ie for more details.

Published in the Sunday Business Post 24/01/21