O’Donnellan & Joyce is gearing up its first auction of 2017 which will take place on March 3 with a large selection of family homes and investment properties on offer.
Colm O’Donnellan of O’Donnellan & Joyce says low interest rates and the allure of capital appreciation have made the property market more attractive to investors than equity markets of late.
Housing stock levels are at a 10 year low with the result that property prices, spurred by demand, should continue to rise as the rate of new builds is nowhere near meeting the current demand, he says.
"In turn, rents have risen with Daft.ie reporting that rents in Galway city rose 14 per cent above levels recorded eight years ago. In the same report, two bed apartments in Galway city were earning a rental yield of 7.6 per cent in 2016 and three bed semi-detached houses earning a 5.7 per cent yield.
“There is a tremendous selection of rental property on offer in our spring auction, with plenty of choice for the discerning investor.
"Galway always has a great demand for rental properties given its third level colleges, health services and the many business parks with multinational employers.”
Registration for the auction commences at 1pm in the Harbour Hotel, New Dock Road, Galway, on Friday March 3, and Colm O’Donnellan will start the auction proceedings at 2pm sharp. For those who cannot attend in person, the auction is streamed live online at www.odonnjoyce.com
Galway properties to note include the following:
17 ST JOSEPH’S AVENUE, HENRY STREET, GALWAY
Ideally situated in central Galway, this mid terraced three-bed townhouse offers an opportunity for a first time buyer or an investor to acquire a property in the heart of the city. The property is within close proximity of the city's Latin Quarter offering the excellent nightlife and restaurants available in this area, while also being well positioned for local schools and is a short stroll to Salthill promenade.
AMV: 200,000
OPEN VIEWINGS WEDNESDAYS & SATURDAYS 11.00 – 12noon
49 GLEANN NA TRA, SANDY ROAD, GALWAY
Two bedroom ground floor apartment, situated in a well-maintained and sought after development. Convenient location and within walking distance of a host of amenities such as Galway city centre, retail and industrial parks. The property is also located on an excellent transport network system with ease of access to NUIG, UCHG, Merlin Park Hospital and GMIT.
AMV: €155,000
OPEN VIEWINGS WEDNESDAYS & SATURDAYS 3.30 – 4.30
APARTMENT 3, OAKFORT HOUSE, SALTHILL, GALWAY
Bright two bedroom apartment located in a small complex of only six apartments in a quiet, residential area of Oaklands, Salthill. The property is two minute walk to Salthill village and all its amenities, as well as Salthill Promenade and a host of top class restaurants and leisure facilities. This would be an ideal holiday home or superb investment property. Presented in excellent condition.
AMV: €175,000
OPEN VIEWINGS WEDNESDAYS & SATURDAYS 12.30 – 1.30pm
‘ ST JOSEPH’S’, PIER ROAD, SEAPOINT, BARNA, CO GALWAY
Detached two bed property in need of modernisation and refurbishment. Located in a desirable location in the heart of Barna village. Local hostelries include Donnelly's of Barna, O'Grady’s on the Pier and the Twelve boutique hotel. Views from the property are breathtaking, and with proper planning and a good eye, one could take full advantage of the spectacular views. A once in a lifetime opportunity to acquire a property in this very desirable location.
AMV: €195,000
OPEN VIEWINGS WEDNESDAYS & SATURDAYS 3.30 – 4.30pm
158 TIRELLAN HEIGHTS, HEADFORD ROAD, GALWAY
Bright and spacious three bedroom semi-detached residence. Located within walking distance of Terryland Shopping Centre, schools and church, this residence would prove to be an ideal owner occupier home or a gilt-edged investment property. The property also benefits from off street parking, a good sized rear garden, and a side entrance. Viewing is highly recommended.
AMV: €210,000
OPEN VIEWINGS WEDNESDAYS & SATURDAYS 3.00 – 4.00
90 ROCKFIELD PARK, RAHOON, GALWAY
Detached spacious property, currently in two apartments (two bed and three bed ), located within a short commute of NUIG, UCHG and Galway city centre. Also ideally located within moments of a host of shops, schools, Salthill Promenade and sporting facilities. This property would be a gilt edged investment property due to its convenient location. Viewing is highly recommended.
AMV: €145,000
OPEN VIEWINGS WEDNESDAYS & SATURDAYS 2.00 – 3.00
153 GORT NA COIRIBE, HEADFORD ROAD, GALWAY
Two bedroom apartment located within one mile of Eyre Square and within close proximity of NUIG, UCHG and Terryland Retail Park. The property is also located on an excellent transport network system. Presented in turnkey condition, accommodation comprises hall, open plan kitchen/dining and lounge area, two double bedrooms, one en suite, and a main bathroom. Electric storage heating, double glazed windows and secure complex. An ideal investment opportunity, holiday home or owner occupied residence.
AMV: €180,000
OPEN VIEWINGS WEDNESDAYS & SATURDAYS 4.15 – 5.15
AUGUSTINE HOUSE, MERCHANTS ROAD, GALWAY
O’Donnellan & Joyce has a first floor office suite in a prime city centre location for sale. it comprises two large offices, one small office, a large reception area, and ladies and gents' restrooms. The overall floor area comes to 582sq ft approx. Call Anne Harding for full details.
AMV: €55,000
OPEN VIEWINGS WEDNESDAYS & SATURDAYS 10.00 – 10.45.
16 TEMPLE JARLATH COURT, HIGH STREET, TUAM, CO GALWAY
Two bedroom town centre apartment close to all amenities. Management fees for this property are approximately €750 per annum. Tuam is a busy town located within a 30 minute drive of Galway city. This apartment would be an ideal first time buyers or a great investment property.
AMV: €75,000
OPEN VIEWING TIMES WEDNESDAYS & SATURDAYS 12.30 - 1.15
FINNS BAR, AUGHRIM, BALLINASLOE, CO GALWAY
Well known public house with old world charm. Seven day bar licence with seating for more than 50 patrons. Features include Liscannor paved stone flooring in bar, timber beam ceiling and a feature fireplace. Fully equipped with sale to include all furniture, fixtures and fittings. Ground floor includes living room, kitchen and bathroom. Upstairs there are four bedrooms, all en suite and fully furnished.
AMV: €160,000
OPEN VIEWINGS WEDNESDAYS & SATURDAYS 12.30 – 1.15
COLLEGE ROAD, MOUNTBELLEW, CO GALWAY
Newly constructed detached residence of circa 3,000 sq ft, and garage to the rear. Located beside the fire station in the centre of Mountbellew. Previously held planning permission to construct a residential family home, but is now currently divided to accommodate a commercial unit on the ground floor with apartments overhead. See planning ref 04/1091. An application was also submitted to divide the premises into two x four-bed dwellings, planning ref 10/912. O'Donnellan & Joyce advises all interested parties to carry out their own research in relation to the said planning.
AMV: €55,000
OPEN VIEWINGS WEDNESDAYS & SATURDAYS 11.30 – 12.15
2 ABBEY STREET, LOUGHREA, CO. GALWAY
Previously used as consulting rooms, a recent application was made for change of use to revert to private residence. Presented in excellent condition, this will make a superb home for someone looking to downsize. Offered with PVC double glazed windows and doors, storage heating, an open fireplace in the living room and a lovely sun trap patio/garden to the rear. Within walking distance of Mount Carmel Abbey, Loughrea town centre, the Loughrea Lake and all local amenities.
AMV: €90,000
OPEN VIEWINGS WEDNESDAYS & SATURDAYS 10.45 – 11.45
19 MILLBROOK, MILLTOWN, CO. GALWAY
Modern end-of-terrace three bed home in lovely condition, located just off the N17 in the scenic village of Milltown. Millbrook is a mixture of detached, semi and terraced homes with some retail units. Nicely maintained, this residence comprises hall, living room, kitchen/dining, three bedrooms and main bathroom. It would make a lovely starter home or ideal for those who want to downsize.
AMV: €50,000
OPEN VIEWINGS WEDNESDAYS & SATURDAYS 10am – 10.45am
13 TEMPLE JARLATH COURT, HIGH STREET, TUAM, CO GALWAY
This is a spacious retail unit of approximately 690 sq ft, located in the heart of Tuam Town Centre. Tuam is located within a 30 minute drive of Galway city centre. This property would be ideal for office or retail use.
AMV: €55,000
For more information contact Colm O’Donnellan, Mary Fahy or Anne Harding at O’Donnellan & Joyce Auctioneers, 5 Mary Street, Galway 091-564212, www.odonnjoyce.com, or email [email protected].
