Saturday 24 February 2018

Galway site up for some €1.4m

Peter Flanagan Commercial Property Editor

CBRE and Mullery Auctioneers are seeking around €1.4m for more than 20 acres of land in Galway City.

The 20.96 acre site at Rahoon in the city is being put on the market for sale by private treaty.

The subject lands comprise about 14.01 acres which are currently zoned residential with a further 6.95 acres of agricultural zoned lands.

CBRE say the sale "represents a prime development opportunity incorporating approximately 14.01 acres residential zoned lands in an area where there is currently strong demand and a shortage of homes for sale".

Three bed semi-detached houses in the area are achieving prices in the region of €180,000 to €200,000 while four bed semi-detached houses are achieving in the region of €220,000 to €250,000, add CBRE.

The lands have access from both the Letteragh Road and a link road off the Rahoon Road and are situated about 3.8km from the city centre, only 2.4km from the National University of Ireland, Galway (NUIG) and 2km from University College Hospital. The lands are situated adjacent to a number of modern housing developments and close to Knocknacarra and local amenities including the Gateway Shopping Centre and Westside Shopping Centre.

Planning permission had previously been granted on part of the subject lands for 207 residential units, creche and three commercial/retail units. This planning permission has now expired.

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