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Series of investment opportunities to go under the hammer

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Royal Rock, Ballybane AMV €50,000

O’Donnellan & Joyce Auctioneer hold their next auction on April 17, with a total of 30 properties set to go under the hammer, in a mix of residential, investment and commercial opportunities.

The first commercial property is located in the heart of the busy town of Claremorris, Co Mayo and is made up of a mix of four retail units with nine residential apartments overhead.

Three of the commercial units are held on long leases by the well established Paul Byron Shoes, while the fourth unit is operating as a laundrette. The residential units are located overhead and there are currently four out of the nine units rented.

The Advised Minimum Value is €300,000. Open viewings on Thursdays from 1.30pm to 2.30pm.

Situated on the edge of Moycullen village are two units located within the Kilrainey commercial complex. Both units are being sold individually. Unit 1, which is currently vacant and measures approximately 900 sq ft, was previously run as a takeaway. It would be suitable for a number of different uses. Open viewings take place on Wednesdays from 6pm to 7pm.

The second unit is Unit No 6 and is currently leased as a hardware store. At 900 sq ft it is generating a rental income of €1,000 per month. Both units face directly onto the main Galway/Clifden Road.

The AMV for each unit is €70,000.

A retail unit with an apartment overhead located at Old Street, Athenry will also go under the hammer. The ground floor unit measures 600 sq ft and is currently leased to NCBI (National Council for the Blind), generating a rental income of €600 per month.

There is a three-bed apartment overhead which requires modernisation. The apartment contains its own separate entrance off the main street.

The AMV is €80,000. Open viewings take place on Wednesdays and Saturdays from 11am to noon.

There are two industrial/warehouse units for auction in the Ballybane Industrial Estate on the Tuam Road in Galway. Both enjoy high profile locations, with neighbouring businesses such as McDonoghs Hardware and Citylites.

The first one is No 9 Royal Rock and comprises a ground floor warehouse with office space overhead and measures 1,850 sq ft. The ground floor is currently let to Galway Garden Machinery Repairs. The first floor is office space avails of its own separate entrance and toilet facilities.

The AMV is €50,000.

The second property is a warehouse unit of 6,400 sq ft with a mezzanine floor of 1,500 sq ft. This property is currently vacant and would be suitable for a number of different usages.  The AMV is €230,000. Open viewings are Wednesdays and Saturdays from 10am to 10.30am.

The final commercial property to be auctioned will be Unit 2 Buttermilk Walk off Middle Street in Galway. The unit comprises two ground floor retail units extending to 620 sq ft.

Each unit has its own entrance with shared storage space to the rear.

The AMV is €90,000. Open viewing is on Friday from 5pm to 5.30pm.

■ For further information, contact O’Donnellan & Joyce Auctioneers on 091 564212 or visit odonnjoyce.com

Connacht Tribune

Galway start-up’s €3m investment

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Investment...Orreco CEO Dr. Brian Moore.

Galway-headquartered sports performance and data science company Orreco will scale its operations in Ireland, the United States and UK following a €3 million investment round led by Silicon Valley-based venture firm True Ventures.

The new investment will enable the Galway company to expand its product, engineering, data science and commercial teams, in addition to accelerating the development of its elite performance solutions, @thlete and FitrWoman.

Up to 30 new hires will be made across the company’s offices in Ireland, the UK, and the U.S., specifically Galway and Los Angeles where Orreco operates a performance centre. The company currently employs 30 people.

Its performance centres provide sports science and data solutions for professional sports teams and athletes including the US basketball NBA sides the Dallas Mavericks and Atlanta Hawks, NBA Champion and All-Star Pascal Siakam, English Premier League side Newcastle United and WSL club Chelsea FC Women, USA Swimming, and the Wasserman Sports Agency (Los Angeles).

Top golfers Padraig Harrington and Graeme McDowell became investors after experiencing the benefits of Orreco’s services first-hand.

For more, read this week’s Connacht Tribune.

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Connacht Tribune

State aiming to make remote work a reality

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Minister Hildegarde Naughton

Galway is expected to benefit from ‘significant investment’ in the development of remote working hubs later this year – as part of the Government’s new National Remote Working Strategy.

Legislation will be introduced by the end of September entitling employees to request remote working arrangements. And while there will be no automatic entitlement, employers will be required to explain why such arrangements are impossible.

If an employee is unhappy with the explanation, they can take a case to the Workplace Relations Commission for adjudication on the matter.

A total of €5 million has been allocated under Budget 2021 for the development of a national hubs network, while the Western Development Commission (WDC) is currently working on the development of 100 hubs in the Atlantic Economic Corridor region, which includes Galway.

Minister Hildegarde Naughton said that the strategy had the potential to transform local economies and the quality of life of thousands of employees in the west.

“The Covid-19 pandemic accelerated exponentially the move towards remote working, and we have responded to that trend by investing in broadband infrastructure and hubs in recent months,” explained the Galway West TD.

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

Three of Galway’s shining success stories reveal plans to expand in 2021

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Senator Aisling Dolan....good news.

Three of Galway’s start-up success stories have all gone into the New Year with expansion plans – creating around ten high-end jobs each in the process.

The continued expansion of these Enterprise Ireland-supported companies – based in the med-tech and new technology sectors – are a ringing endorsement of enterprise in the west, according to Galway Senator Aisling Dolan.

Palliare, a medical device company founded in 2018 as a spinout from Irish gastro-diagnostic company Crospon, has hired ten new employees in recent months.

Flexwork company, Ronspot intends to have a total of ten new employees on board by spring 2021, and has hired five people since September.

Ronspot – based in the GMIT Innovation Hub – is a technology company which enables the flexible workplace between office and home.

And Venari Medical – a spin-out from the BioInnovate Ireland fellowship programme for medical device innovation at NUIG – filled three new positions in October, with plans to recruit up to ten new employees in the coming months.

Senator Dolan described the jobs as a vote of confidence in graduates in the west.

“It shows that the dynamic MedTech research in the west has a strong ecosystem with third level underpinned by Enterprise Ireland and the seed capital investment support from the Western Development Commission,” she said.

“It is wonderful to see Irish innovation rising to the top, competing internationally and winning global export markets. Enterprise Ireland champions Irish based innovative companies and crucially supports early-stage development,” she added.

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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