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Comer brothers flip Dublin office block for €77m

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Galway Bay fm newsroom – Glenamaddy property developers Luke and Brian Comer have made a profit of almost €80m on a Dublin office block purchased during the recession.
The block on East Wall Road near the docklands was bought for €5 from a bank appointed receiver over another developer.
Brothers Luke and Brian Comer purchased the Beckett Building in 2013 from a receiver appointed by Bank of Scotland over the assets of developer Liam Carroll.
At that time, the cost was about €5m.
After fitting out the six storey building, the Comer brothers sold it on to South Korean-based Kookmin Bank last year for €101m.
According to The Sunday Times, corporate filings show that the firm used to acquire and develop the building, Favonius Property Company, is being wound up.
It has assets of almost €77m with liabilities of just €68 thousand.
Last year, Luke Comer revealed the group’s Irish property portfolio is worth over €2bn – and they intend building more than 10 thousand residential units in Galway, Cork and Dublin within 5 years.

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Uisce Éireann working to lift long running Boil Notice for parts of Loughrea Town

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Galway Bay fm newsroom – Uisce Éireann says it’s working to lift the Boil Water Notice still in operation in parts of Loughrea Town

It was issued due to the detection of low chlorine residuals and elevated levels of iron and turbidity in the public supply.

Areas still affected include Castle Street, Church Street, King Street, Kelly Street, Piggott Street, Moore Street, Dolphin Street, Mount Carmel Crescent, Athenry Road, Liam Mellows Terrace, Cross Street and St. Brendan’s Day Care Centre.

Irish Water has acknowledged the impact of this lomg running notice and says a programme of remedial works is expected to commence mid-Summer.

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Deputy Sean Canney confirms that The Old Grove Site in Tuam has now been handed over to the HSE

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https://mcdn.podbean.com/mf/web/ifa8tg/sean.mp3

Galway East Independent TD Sean Canney has stated that the work on the construction of the Old Grove Site is now complete and that the buildings have been handed over to the HSE by the Contractor.

Deputy Canney added that the signage is now complete on The Grove Adult Mental Health Services Unit and the Grove Children’s Disability Network Team Unit is now ready for fit-out and use.

Speaking this afternoon, Deputy Canney said that this is great news for Tuam.

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Draft Athenry Local Area Plan goes on public display

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The Draft Athenry Local Area Plan for 2023 – 2029 is now on public display.

The LAP is a land-use plan and overall strategy for the development of Athenry, to ensure the town is developed in a sustainable manner.

Several reports have also gone on public display – including a local transport plan, and a strategic flood risk assessment.

The draft local area plan and reports can be viewed online at Galway.ie, or at County Buildings, Athenry Library, or Athenry Area Office.

The closing date for submissions is Friday, July 7th.

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