Galway’s two local authorities have agreed to propose a sale of Galway Airport in Carnmore.
Agents for Galway City Council and Galway County Council will advertise for ‘expressions of interest’ in the 118 acre site in the coming days to ‘test the market’ before councillors are asked to vote on any potential sale.
With an AMV (Advised Minimum Value ) of €90,000 per acre, industry expectation is that the airport will sell for at least €10.5m, returning a healthy return on investment for its current owners.
The Industrial Development Agency (IDA ), tasked with attracting foreign direct investment into Ireland, is understood to have made a number of informal enquiries about purchasing the land over the past three months to complement its holdings in Oranmore.
Indicative land use for the airport was drawn up by consultants in 2021, setting out that the site should be used for enterprise employment in sectors such as food, creative industries, green tech and agri-technology.
Auctioneers Keane Mahony Smith, acting for Galway County Council, expects enquiries from public bodies, institutional investors, technology companies, film and logistics. City and county officials will score potential purchasers on a number of metrics, including job creation.
A wider portfolio of lands owned by Galway City Council is currently being valued, with a view for potential sale to fund large-scale projects, such as the council’s move from College Road to Crown Square in Mervue.
