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Hotel in Mayo sells for less than rented semi-D in the capital

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Auction lot: The Mayfly Hotel, Foxford, Co Mayo, sold for €267,000

Auction lot: The Mayfly Hotel, Foxford, Co Mayo, sold for €267,000

Auction lot: The Mayfly Hotel, Foxford, Co Mayo, sold for €267,000

A hotel in Co Mayo, two Galway office units and two Dublin residential investments were among the 31 lots that sold at a recent O'Donnellan & Joyce public auction in Galway, generating total sales revenue of €4.6m.

The Mayfly Hotel, Main Street, Foxford, Co Mayo, sold for €267,000 - or €7,000 over its €260,000 guide price.

Modernised in recent years, its 792 sq m includes 10 en-suite bedrooms, a restaurant, bar and lounge on the ground floor. Its Admiral Brown function room can cater for 200 guests. It is registered for civil wedding ceremonies and enjoys views overlooking the River Moy.

In Galway city, two first-floor office units were sold as one lot for €220,000 - or €100,000 over the €120,000 AMV.

Located at 20C and 20D Liosban Business Park, Tuam Road, each unit extends to 700 sq ft. They are laid out with both open plan and partitioned offices along with toilet and canteen facilities.

A three-bedroom investment property at 68 Villa Park Avenue, Navan Road, Dublin 7, sold for its €325,000 AMV.

Extending to 90 sq m, the semi-detached house comes with gardens and a laneway to the rear. The auctioneer said it has potential to extend. It generates monthly rent of €1,350, suggesting a gross initial yield of 4.98pc.

Also on Dublin's northside, an investment property at 304 Swords Road, Santry, sold for its €285,000 AMV.

With a monthly rent of €1,000, this suggests a gross initial yield of 4.2pc for the property.

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