O’Donnellan & Joyce reports exceptional interest from investors for the large number of city centre properties which are going under the hammer in its forthcoming must-sell property auction on May 17. According to auctioneer Colm O’Donnellan the company has been “pleasantly surprised by the amount of investors starting to view the large number of city centre properties which will be going under the hammer”.
Investors throughout the country are starting to realise that there is no return on money at the minute in the bank, the Government guarantee which provides a security on deposits of more than €100,000, having come to an end, investors are starting to view property as the safest haven for their money. Also there is a general feeling that the market is starting to turn, and this can be seen in the large number of overseas investors who are starting to acquire prime substantial blocks of apartments and commercial properties throughout the country. Properties in Ireland are now regarded as exceptionally good value with yields of eight to 10 per cent, and properties that are close to the university or within easy access of the city centre are attracting the most interest from investors.
The following is a list of properties which are being viewed intensely by investors.
No 51 Whitestrand Park, Salthill: Four bedroom semidetached residence converted into four one bedroom apartments, AMV €190,000. Open viewings Saturday and Thursday 11am to 12 noon.
St Jude’s, 13 Carbry Road, Newcastle: Five bedroom semidetached residence with large flat to rear, in mint condition, and within walking distance of UHG and NUIG. Potential to produce an exceptional income with an AMV of €160,000. Open viewings Saturdays and Thursdays 5pm to 6pm.
No 1 Clifden Crescent, Newcastle: Standing on a corner site with a large garden, this is a three bedroom detached residence with a garage on the side, in fantastic decorative order and repair. AMV is €120,000. Open viewings Saturdays and Thursdays 5pm to 6pm.
No 1 Corrib Terrace, Woodquay: Located in one of Galway’s most sought after locations in the heart of the city centre. In need of refurbishment and modernisation, this property has a knockdown AMV of €100,000. Open viewings Thursdays and Saturdays 12.30pm to 1.30pm.
Around the corner from this is No 10 Eyre Street, which does not require the same amount of work. It contains three bedrooms, kitchen, living room, bathroom, and utility. AMV is €125,000. Open viewings Thursdays and Saturdays 2pm to 3pm.
No 1 Bridgewater Court, Dominick Street: Dominick Street is known as Galway’s Left Bank. This spacious two bedroom apartment is situated on the first floor. This would provide a quality investment, with an AMV of €85,000. Open viewings Thursdays and Saturdays 12.30pm to 1.30pm.
The next properties are two residential properties at Devon Park, Salthill, which require total refurbishment and extensive modernisation. Located in one of Galway’s most sought after residential areas, each has an AMV of €100,000. Open viewings Wednesdays and Saturdays 2pm to 3pm.
No 26 An Logan, Western Distributor Road: This three bedroom townhouse is situated just off the Western Distributor Road and is suitable for investors or first time buyers. It has an attractive internal layout, AMV €95,000. Open viewings Thursdays and Saturdays 3.30pm to 4.30pm.
Just down the road from No 26 is No 4 White Oaks, Clybaun Road, Knocknacarra. Located just beside Sheridan’s licensed premises and Joyce’s Supermarket, this four bedroom semidetached residence would provide the perfect investment with every amenity on its doorstep. AMV is €120,000. Open viewings Thursdays and Saturdays 2pm to 3pm.
No 78 Gleann Dara, Bishop O’Donnell Road: This home has four bedrooms and comes fully furnished, located close to NUIG and UHG. AMV is €90,000. Open viewings Thursdays and Saturdays 3.30pm to 4.30pm.
On the eastern side of the city there are two properties on offer, Nos 150 and 200 Castlelawn Heights on the Headford Road, located half a mile from the city centre. These are spacious semidetached residences finished to an extremely high standard, each with an AMV of €130,000. Open viewings Wednesdays and Saturdays 12.30pm to 1.30pm.
Also on the eastern side of the city centre is No 13 Rahylin Glebe, Ballybane, a four bedroom semidetached residence which is located close to GMIT. Due to its proximity to GMIT and to the large industrial estates, it would provide a guaranteed rental income at a very strong yield. AMV is €80,000. Open viewings Thursdays and Saturdays 11am to 12 noon.
According to Colm O’Donnellan there is tremendous variety on offer in this auction with 34 properties on offer, all at exceptional value and all must be sold. The auction will take place in the Harbour Hotel, Galway, on May 17 at 3pm.
For further particulars of this auction contact O’Donnellan & Joyce at (091 ) 564212.
