The next O’Donnellan & Joyce ‘Wild Atlantic Way’ auction – which takes place next week – looks set to be the biggest of the year.
According to the auctioneers, there has been a huge response at viewings, with a variety of buyers in the marketplace – first-time buyers, home-seekers and investors. In all, there are around 70 lots in the catalogue.
Auctioneer Colm O’Donnellan said: “This is definitely an auction for the investor, with a number of properties showing huge potential for development within the city centre and surrounding areas. One particular property is development land in Moycullen village, 3.25 acres with excellent potential containing substantial frontage on the main Moycullen to Galway Road.”
The lands are zoned town centre and commercial (CI) which provide for high density residential/commercial in the Local Area Plan. The Advised Minimum Value is €800,000.
Other potential investment properties going under the hammer include:
Ruxton Court, Dominick Street, Galway. The property includes a ground floor retail unit occupied by Paddy Power, two ground floor offices, a first floor office and 3 two-bed apartments. It is currently generating rent of €42,000 per annum. The AMV is €850,000.
Garden Close, Shantalla, Galway. A block of 4 three and four-bed townhouses close to NUIG and UHG being sold as one lot. Therer are tenants in place, generating €2,300 per month. The AMV is €900,000.
Kilrainey House, Church Road, Moycullen. A detached block of 5 two-bed apartments being sold as one lot, with planning in place for a further four apartments. It is generating €3,100 per month (one unit is vacant). The AMV is €600,000.
Cathedral Buildings, Middle Street, Galway. 13 individual office units split over the third and fourth floor, which are currently let, generating €1,500 per month. The AMV is €150,000.
4 Priory Road, Claddagh, Galway. A two-bed mid-terrace property which could prove to be an ideal investment or starter home. The AMV is €195,000.
Rusheen Bay Windsurfing, Barna Road. All buildings and equipment with 1.5 acres of amenity-zoned land fronting onto the bay. The AMV is €200,000.
For more, read this week’s Connacht Tribune.