Magnificent opportunity to acquire one of Salthill’s prime commercial properties and three exceptional residential apartments to the rear with views overlooking Galway Bay. O Donnellan & Joyce are delighted to offer for sale a Prime mixed Commercial/residential Investment located at 181 Upper Salthill, Galway.
181 Upper Salthill is comprised of the Holiday Hotel and the Office Bar licensed premises which is regarded as one of Salthills most popular establishments and contains an excellent long term tenant in place. The three apartments located at Lann Na Farraige are to the rear of the building and are presented in excellent condition throughout providing a gilt edged residential investment. This is an excellent opportunity to acquire an excellent mixed commercial/residential investment with an excellent yield. Tenants are not affected.
ACCOMMODATION
The Holiday Hotel is comprised of a reception area, with sleeping accommodation on the 1st floor and 2nd floor comprising of 5 bedrooms all with en-suite on the first and a further five bedrooms all with en-suite on the 2nd floor.
The Office Licensed premises is comprised of a welcoming bar area, public toilets, separate back room with bar and small kitchen area. The lease term for The Office Bar and Holiday Hotel is a 35 year lease with an excellent rent from a long term tenant, who enjoys an established business in what is recognised as one of Salthills leading licensed premises with boutique hotel overhead.
The apartments at Lann Na Farraige to the rear are comprised of a communal entrance hall, with stairs and lift to 1st and 2nd floors, the accommodation comprises of a three bed apartment on ground floor, a three bed apartment on 1st and a 2 bed apartment on the 2nd floor. There is strong rental income generated from the apartments producing a strong yield.
FEATURES
Gilt Edged mixed commercial/residential investment
Prime Location in the heart of Salthill
Long established licensed premises with 10 bed Hotel
Excellent long term tenants in place
3 exceptional residential apartments to the rear
A short stroll from the beautiful of Salthill Promenade
Two miles from Galway city centre
Large catchment area and surrounded by excellent facilities
BER RATINGS: to be confirmed- awaiting Certs
ASKING PRICE €950,000
CONTACT KYLE O BRIEN, NIALL BROWNE OR COLM O DONNELLAN OF ODONNELLAN & JOYCE AUCTIONEERS LTD ON 091-564212
