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Investors ready for Galway auction


This retail unit at Furbo leads the upcoming O'Donnelan & Joyce auction

This retail unit at Furbo leads the upcoming O'Donnelan & Joyce auction

This retail unit at Furbo leads the upcoming O'Donnelan & Joyce auction

O'Donnelan and Joyce expect strong interest in their upcoming auction ahead of the expiry of the capital gains tax exemption at the end of this year.

The firm's auction co-ordinator Mary Fahy claims that they will be auctioning a number of very suitable properties for investors such as a "very substantial" commercial property on the main Galway-Furbo Road.

The property which is located in the very heart of Furbo Village is about of 4,500 sq ft and regarded as the prime retail store in the locality.

"It contains a very large forecourt and sits on circa 0.9 acre site.

"It is situated on the main Galway-Connemara route, this high profile location in the heart of Furbo village and the property contains village development zoning which means there is an opportunity for major development on the site. In addition to this, there is an option to acquire a further two acres to the rear of the property.

"This is an opportunity to acquire a property that could be easily let in the morning, alternatively it had enormous development potential which would give the savvy investor or owner occupier a strong return in the future," she said.

This property has an AMV of €250,000 and there are open viewings every Wednesday and Saturday from 2pm to 3pm.

Elsewhere , a property 9 Distillery Road, Newcastle is on themarket with a guide price of €450,000. The property has an area of circa 1,390sq ft. and is located on the main artery into NUIG and adjoins the NUIG car park. The property which is an executor sale is situated on one of the largest sites in this locality, circa 0.2 acres, giving investors the opportunity to develop a student complex to compliment the high profile location of the outstanding site. The property which is presently in good condition for a house of its age and could be easily let with a very strong yield due to the location of the property, Ms Fahy added.

The properties will go under the hammer as part of 50 lots at the next O'Donnelan & Joyce auction scheduled for December 12 in the Harbour Hotel in Galway City

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