Mullery auctioneers has reported a marked increase in the commercial letting market during the first quarter of this year.
Philip Mullery of Galway city based agents, Mullery auctioneers, has noted a particular improvement in the level of transactions taking place, albeit at rental levels somewhat different to recent years.
Of particular note is the increased level of interest in the retail, pub, and food sectors, with city agents recently letting numerous such properties.
Recent lettings include No 7 Mainguard Street, a ground floor retail premises comprising in excess of 800sq ft. “There was particularly strong interest in this property with numerous parties interested in leasing it given its excellent location and suitability to many uses,” Mr Mullery said.
Other retail properties negotiated since the beginning of the year include a retail property at Westside Business Centre and a ground floor retail property situated at Lower Dominick Street in the city centre.
Leases on the Lantern Pub in Ballybane, situated on the eastern side of the city, and Westside Tavern on the western side of the city, have recently been negotiated by the same agents. Both are extensive seven day licensed premises in shopping centres and densely populated areas. Strong interest was evident in these pubs, showing an increased demand for this type of business.
Philip Mullery has also completed lettings on a number of office properties including a ground floor office property in Salthill and first floor offices at Headford Road.
The agents are actively negotiating the letting of a number of other commercial properties in the city and environs, and have brought a number of premises to the market in recent weeks including No 38 Eyre Square, a substantial landmark premises on the northwestern side of Eyre Square adjacent to occupiers including Dunne’s Stores, Ulster Bank, The Bagel Factory, Debenhams, and Marks & Spencer.
The accommodation comprises ground floor retail space extending to c2,700sq ft. In addition there is accommodation on the first and second floors suitable for offices or storage. The property has frontage of about 20 feet to Eyre Square.
“This property is ideally positioned at Eyre Square which benefits from high footfall and would be ideal for a flagship store in the city,” Mr Mullery said.
For more information contact Mullery auctioneers at (091 ) 567275 or visit www.mulleryauctioneers.ie
