Cushman & Wakefield has just launched Hynes' Building in Galway city centre to the market for sale. The property is one of Galway’s best known office buildings, in no small part due to the fact that the building houses the Galway City Library on its ground floor.
Hynes’ Building comprises a total of 5,427sq m (58,432sq ft ) net internal area including the St Clare's Walk building which fronts onto Merchants Road. The property is situated on St Augustine Street in Galway city centre, within easy walking distance of all the city's amenities. The area around Hynes’ Building is recognised as Galway’s central business district, and other developments in the vicinity include Bonham Quay, Merchants Square and the Eyre Square Centre.
Much of the accommodation for sale (43,850sq ft ) has most recently been occupied by a global insurance company, however this space will become vacant from October 2024 and this allows any incoming purchaser significant potential and flexibility. The majority of this accommodation is fitted to a very high standard to include a mix of open plan and cellular office space. Galway City Library occupies part of the ground floor of the building, including Galway City Library and the children’s library. The property produces a total income of €707,998 per annum (which decreases to €166,688 from October 2024 ) and presents an incoming purchaser with many possibilities. The property is on the market at a guide price of €14,000,000.
Seán Coyne of Cushman & Wakefield Galway noted: “Hynes' Building allows huge potential for any incoming purchaser to add significant value through asset management, either through reversionary income or even alternative use.”
Full information is available from sole selling agent Cushman & Wakefield at 091 569181.
