Galway Bay fm newsroom – A US firm has bid 23 million euro for the Eyre Square Shopping Centre.
According to the Irish Times, New York based Marathon Asset Management has emerged as the leading bidder for the freehold interest in the city centre.
The paper reports that Marathon Assest Management has agreed to pay approximately 23 million euro for the controlling interest in the shopping centre.
The investment includes the freehold interest in the centre, units occupied by New Look, JD Sports and Pennys, common area income, the ramps area and a former bank building at 19 Eyre Square.
The 60 unit centre currently produces annual rents of over 2 million euro and is expected to show an immediate return of 8.5 percent.
There is existing planning permission to replace the ramp entrance at Eyre Square with a three story building to accomodate five new retail units and a restaurant with deck area at first floor level.
City planners have also approved the use of the ground floor as a food outlet.
The centre is being sold by DTZ Sherry FitzGerald and DNG Commercial on behalf of the Bank of Scotland Ireland, who placed the centre in receivership.
Galway City Councillors Give Green Light To Trial Cycle-way in Salthill.
From the Galway Bay FM Newsroom: Galway City Councillors have voted to proceed with a trial cycle-way in Salthill.
4 local cycling groups had called on councillors to support their bid to bring a two-way cycle-way from Grattan Road to Knocknacarra Road running along the Prom.
17 out of the 18 city councillors supported the motion by Mayor Collette Connolly at this afternoon’s city council meeting.
The plan had raised concerns over the impact on local business with the feared loss of over 200 car parking spaces.
Campaign groups say the infrastructure should be trialed for six months to determine its viability.
City Councillors to vote on controversial plan for Salthill Prom cycle-way
From the Galway Bay FM Newsroom: Galway city councillors will vote this afternoon on controversial proposals to bring a temporary cycle-way to Salthill
Galway Cycling campaign, Galway Urban Greenway Alliance, Knocknacarra Bike Bus and East of the Corrib Bike Bus are calling on councillors to support their bid to bring a two-way cycle-way from Grattan Road to Knocknacarra Road running along the Prom.
The campaign groups say the infrastructure should be trialed for six months to determine its viability.
The plan has raised concerns over the impact on local business with the feared loss of over 200 car parking spaces.
City councillors are set to vote on the proposal at a meeting this afternoon.
Hopes new action plan could create hundreds of jobs in Galway Gaeltacht village
From the Galway Bay FM Newsroom: It’s hoped up to 300 new jobs could be brought to a Galway Gaeltacht village with the implementation of a new action plan.
The plan for An Cheathrú Rua as a place to live, work and visit was revealed earlier today by Comharchumann Mhic Dara in association with Údarás na Gaeltachta.
Areas to target in the plan include language and culture, tourism, enterprise, the arts as well as services and infrastructure and marketing.
As part of the plan a new study has found that more than 300 new sustainable jobs could be created if this plan is developed successfully over five years.
Seán Ó Domhnaill, Manager of Comharchumann Mhic Dara says the plan includes the input of local business people, members of the local community and various local and State organisations.