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Commercial units, apartments and land across Galway set to go under the hammer

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Cluain Riocard, Headford Road.

A block of commercial units on the eastern side of the city – including one formerly occupied by Lidl – is set to go under the hammer for a total of around €6 million this month.

The five units at Merlin Commercial Park in Doughiska, which are being auctioned separately, are among 18 commercial and residential properties around Galway to be sold at an Allsop Space auction in Dublin on February 18.

The Galway properties have a total price tag in the region of €7.2m.

Among the residential properties going under the hammer are four apartments are for sale as one lot in Nuns Island in the city at a reserve price of €200,000 and a two-bed apartment in Clifden for €25,000.

Robert Hoban, Director of Auctions with Allsop Space told Tribune Property: “While the market will always face new challenges, feedback from our buyers is that a very strong appetite exists for the right property in the right location. Passing income is of particular interest to investors.

“We anticipate that 2015 will be a very busy year as more and more properties come to the market to meet the continued demand. We witnessed a marked increase in first-time buyers and owner-occupiers bidding at auction and this is an upward trend we look forward to seeing continue in 2015,” said Mr Hoban.

Commercial:

Unit 3 Merlin Commercial Park. Retail warehouse building extending to 3,590 sq m. Currently let to BWG Foods Ltd (lease expiry 2028 & rent reviews every five years) with rent reserved at €340,000 per annum and current rent passing of €294,000 per annum. The reserve is between €1.85m and €2m.

Unit 4 Merlin Commercial Park. A detached two storey healthcare investment extending to 1,858 sq m. Currently let to the HSE (lease expiry 2036, subject to minimum GP requirement) with a current rent reserved of €240,529 per annum. Reserve price between €1.5m-€1.6m.

Unit 4a Merlin Commercial Park. Supermarket unit extending to 1,532.85 sq m with parking for 157 cars. Currently let to Lidl Ireland (lease expiry 2033; breaks in 2012, 2016, 2020 & rent reviews every five years). The current rent reserved is €430,000 per annum. Reserve price is €1.1m-€1.2m.

Unit 2 Merlin Commercial Park. A warehouse investment building extending to 551 sq m. Let to Smurfit Kappa Ireland on a 12-month rolling tenancy. The current rent reserved is €165,000 per annum. Reserve price is €580,000-€620,000.

Unit 1 Merlin Commercial Park. Retail and office investment building extending to 529.53 sq m. The property comprises a ground floor retail unit (modern convenience store fit out) and two storey office accommodation overheard. Both floors are subject to tenancy with a total current rent reserved of €56,000 per annum. Reserve price is €430,000-€470,000.

For more, read this week’s Galway City Tribune.

Connacht Tribune

Supply chain challenges in retail

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SPONSORED CONTENT  – EZ LIVING FURNITURE

There has been a huge demand for consumer products in 2020 and 2021. Covid-19 has resulted in people spending more time at home than ever before. Lockdown especially saw all non-essential workers previously confined to their homes. Investing in goods such as clothing, electronics and furniture was one of the few ways that people could spend their discretionary income from the comfort of their own homes. However, this major spike in consumer purchasing is only one of many challenges that the retail industry is currently facing.

Every retailer and consumer across the globe is being affected by rising costs and frustrating delivery delays and this, unfortunately, includes  EZ Living Furniture. As Ireland’s most loved and well-known furniture retailer, we wanted to help our customers understand the issues the entire retail industry is currently facing and will continue to face for some time by outlining the order fulfilment process to you.

Supply Chain explained

March 2020:

Many suppliers (including EZ Living Furniture) source their products from overseas. When Covid-19 first struck in the Far East in March 2020, illness and a lessened workforce lead to a dramatic decrease in production. When those countries entered lockdown, supply stopped coming from the Far East entirely.

April 2020:

When these countries began to recover and started to exit lockdown, Europe, unfortunately, went into lockdown. Because we were unable to sell stock to the same capacity, we stopped ordering from these countries.

June 2020:

Customers began ordering products again, but only online as all of the physical stores in Europe were closed. It took us, and many other European businesses a number of weeks to come to terms with the new working from home arrangements and the redirection of resources towards the increase in online sales that occurred subsequently.

November 2020:

Product manufacturers and raw material manufacturers in Europe were still closed due to the pandemic. This meant materials and products were not being produced in Europe at all.

This caused major issues with supply and production. For instance, foam is one of many materials used to make mattresses, dining chairs, and sofas. When this is in short supply, so too is the furniture that uses foam.

Hospitals around the globe began ordering thousands of containers of PPE. With no warehouses to store these essential healthcare items, they remained in the containers at ports. This lead to congestions at ports and a shortage of shipping containers worldwide.

Shipping ports closed due to the outbreak of Covid-19 in ports.

March 2021:

The Suez Canal was blocked by a container vessel for six days. This put further strain on supply chains that were already burdened by the coronavirus pandemic.

October 2021:

We are still continuing to suffer from the lack of containers. This is causing a rise in transportation and raw material costs. Deliveries to customers are also now taking longer than usual.

What are we doing to resolve this?

Stores like us are working even harder to ensure that customers receive the same products in the same time frame and at the same price-point that was in place before the pandemic. Any solution to this supply chain problem is not perfect. Prioritising faster delivery will inevitably lead to higher costs while focusing on lowering product prices will inevitably delay delivery times.

Alternatives and long-term solutions are being explored such as supply chains in eastern Europe. However, this is a time-consuming process primarily due to quality control and logistics.

What you need to know

Already this year, we have had to increase our stock levels to try to compensate for any future delivery delays. Until now, we have been absorbing the increases in transportation costs and raw materials in order to continue to offer our customers such a wide range of furnishings.

Unfortunately, due to the prolonged nature of the pandemic, stock is going to be limited, especially during certain holiday periods. Prices may also have to be increased again in the future with smaller companies likely to be affected to an even greater degree. We want to be completely transparent with our customers and make you all aware that our promotions listed below may be the last chance for you all to purchase EZ Living Furniture items at such low prices.

So, don’t wait to buy that EZ Living Furniture Item you have been eyeing and prioritise our in-stock items. The products available in all retail stores now could sell out and take a long time to return to stock. Shipping delay issues could also mean you are waiting months to receive your items.

Although we are uncertain as to how long these global supply-chain issues will last, we aim to keep you updated at all times. We appreciate your patience during these unprecedented times.

For any queries regarding your order, please contact our Customer Service team by phone, email or live chat:

Monday – Friday 9:30am – 5:00pm

Phone: 0818 222 272

Customer Service Email: customerservice@ezliving.ie

Website Enquiries Email: websales@ezlivingfurniture.ie

SPONSORED CONTENT  – EZ LIVING FURNITURE

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Connacht Tribune

Wild Atlantic Way creates template for sustainable coastal tourism in Europe

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The spectacular Poll na bPheist on Inis Mór – one of the many unique attractions on the Wild Atlantic Way.

The success of the Wild Atlantic Way will be used as a template for other European regions to look at their potential to capitalise on sustainable coastal tourism.

The west’s success story has been used as a research model to establish best practice for the development of marine and coastal tourism trails in the EU – without having a detrimental effect on local communities or the environment.

The research – which was driven by a team at NUIG with input from the Northern & Western Regional Assembly – forms part of the Moses Project which aims to further the EU’s Blue Growth strategy in five focus maritime areas with the potential to accelerate learning across Europe.

The five maritime areas are aquaculture, marine and coastal tourism, offshore renewable energy, ports and fisheries.

Blue Growth is defined as growth that does not interfere with the marine environment’s long-term ability to continue to deliver ecosystem services.

The Moses Project, which is concluding this year, has eight partners in five countries, comprising a mixture of research centres/universities, regional government and a public body representing marine-based activities.

The project is funded through the innovative EU INTERREG Programme called Atlantic Area.

The research on the 2,500 km Wild Atlantic Way was carried out between 2018 and 2020 by a project team in the Socio-Economic Marine Research Unit (SEMRU) based at NUIG, following a brief review of the marine and coastal tourism management regime in Ireland.

The Northern & Western Regional Assembly (NWRA) was also a partner in the two-year project.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

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Connacht Tribune

Roadshow’s nationwide brainstorm

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The Creating Our Future Roadshow on its stopover in Galway city.

Galwegians were offered the chance to play a part in creating a better future for Ireland – by participating in a nationwide brainstorming session last week.

The Creating Our Future Roadshow is midway through its mission to visit every county in Ireland in a month – having started out on September 24 in Wicklow and running until October 26.

It’s a government-led national brainstorm that will involve the people of Ireland in a conversation on the role research can and should play in addressing opportunities, challenges and hopes for the future.

Creating Our Future, according to Minister Simon Harris, will ensure that the direction of research in Ireland is informed by the people it serves.

The organisers are asking people to submit their ideas about what researchers in Ireland should explore to create a better future through the dedicated online portal www.creatingourfuture.ie, which is open until November 30.

The Roadshow is also pulling up in towns across the country to encourage the public to engage in a conversation with researchers over a cup of coffee – and to submit an idea about an opportunity or challenge in their lives, community, Ireland or the world; or something they are curious or passionate about and would like researchers to explore.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

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