O’Donnellan and Joyce has announced the sale of 29 luxury apartments located at Centrepoint, Liosban, approximately one mile from Galway city centre. Located on excellent road, bus, and transport network systems, this development is close to all the amenities that buyers would require.
The development comprises 29 mixed units of two and three bedroom luxury apartments and offers an on site management agency. The estimated rental value for the development is €140,000 per annum. The majority of the units are the same layout and in that regard the development is easily managed and provides a generous yield.
In addition the development comes with a substantial Section 50 tax incentive ideal for investors. Section 50 units must be let to students who are registered in full time education at an educational institution. However the units may be let to non-students outside the academic year. With two major third level institutions, National University of Ireland (NUIG ) and Galway Mayo Institute of Technology (GMIT ), the city has a student population of some 23,000.
Centrepoint is in a central location at Liosban Business Park off the Tuam Road, just seven minutes’ drive and 25 minutes’ walk to Galway city centre and NUIG. Galway Shopping Centre, Dunne’s Stores, Terryland, and Galway Retail Park are all within 15 minutes’ walk.
The Centrepoint apartments are located on the fourth floor of the Centrepoint building above a commercial development which comprises a mixture of offices and retail units. Access to the complex is located along the side of the building, across from the WestDoc offices. There is free roadside and underground car parking at Centrepoint.
“We expect interest in this development to be very strong,” said Mark Forsyth of O’Donnellan & Joyce. “The opportunity to take control of an entire development in such a central location does not present itself very often.”
For full details contact Colm O’Donnellan or Mark Forsyth of O’Donnellan & Joyce auctioneers, Mary Street, Galway, at (091 ) 564212.
