Tax incentive attracts investors to O’Donnellan & Joyce forthcoming auction

Fri, Jul 18, 2014

No 4 Moyola Park.

O’Donnellan & Joyce reported this week that it has been overwhelmed by the number of investors who entered the market in recent weeks, particularly those looking for Galway city properties close to NUIG and UHG. The Government’s capital gains incentive introduced in 2013 comes to an end at the end of this year and provides for investors who purchase a property prior to the end of the year and holds it for seven years; they can then sell the property without having to pay capital gains tax. This is an incredible incentive for investors as there is no other asset that you can acquire and hold for a seven year period tax-free.

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Investment opportunity in the heart of the Midlands

Fri, May 16, 2014

CBRE and Gunne Navan have announced that they are launching Block A Marlinstown Office Park to the market for sale by private treaty. The joint agents, CBRE and Gunne Navan are quoting in the region of €1.5 million for the premises which will give an investor a net initial yield of 15.8 per cent. Block A is a modern three storey office building extending to approximately 2,924 sq m (31,481 sq ft). The property has the benefit of regular floor plates with the flexibility of providing a mix of open plan and cellular office accommodation. To the front of the building are 129 designated car spaces which are included in the sale. Marlinstown Office Park is located off Junction 15 of the N4 on the eastern side of Mullingar Town. The property is 75 per cent let and is currently generating €247,484 per annum. One of the main tenants is the Westmeath Vocational Education Committee which are in occupation on a 21 year lease from January 2005 with a break option at the end of the 12th year. They are currently paying €108,700 per annum. Emma Courtney of CBRE stated, “The sale of Block A Marlinstown Office Park would give an investor the opportunity to acquire a prominent building in the administrative town of County Westmeath. There is the potential to increase the rental income through active management of the scheme to fill the vacant space.”

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Rents on the rise nationally

Fri, May 16, 2014

The average rent nationwide is now 9 per cent higher than it was at the same stage last year according to the latest quarterly Rental Report by Daft.ie. Rents rose in every county outside Connacht and Ulster, with the biggest annual increase of 14 per cent occurring in Dublin city centre. The average rent nationwide is now €888, up €69 from the trough in 2011. Rents rose in all city centres, with Cork and Galway cities experiencing a 6 per cent rise, Limerick 5 per cent, and Waterford 1 per cent. Rents in Dublin’s neighbouring counties of Wicklow and Kildare also witnessed a significant increase of 9 per cent. Outside of the cities, rents rose by an average of 4 per cent, whilst the number of properties available for rent is now under 4,000 – down from 11,000 two years ago. Westmeath and west Leinster In the Midlands counties of Laois, Westmeath, Offaly, and Longford, rents rose by an average of 3.4 per cent in the year to March 2014, compared to static rents a year previously. In Westmeath, rents were on average 4 per cent higher in the first quarter of 2014 than a year previously. The average advertised rent is now €588, a fall of 22 per cent from the peak. Commenting on the report, Ronan Lyons, economist at TCD and author of the Daft report, said: “This latest Daft.ie report shows that the housing crisis in Dublin is getting worse. The solution is not capping rents, which will limit the supply of new homes, but rather addressing the underlying problems, in particular streamlining the cost of land and of regulation.” Year-on-year change in rents - major cities, Q1 2014 Dublin: €1,289, up 14.0 per cent Cork: €848, up 6.2 per cent Galway: €828, up 5.6 per cent Limerick: €672, up 5.4 per cent Waterford: €601, up 1.4 per cent The full report is available from www.daft.ie/report and includes a commentary by Ronan Lyons, Assistant Professor of Economics at Trinity College, Dublin, and author of the Daft report, as well as an analysis of affordability and statistics on residential yields around the country.

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Public auction announced for next Thursday for prime Kiltoom lands

Fri, May 09, 2014

John Earley FIPAV of Property Partners Earley Roscommon are this week advising of the forthcoming public auction of a prime parcel of lands containing ca.34 acres located at Carnagh East, Kiltoom, Athlone, Co. Roscommon which takes place on Thursday May 15 at 3pm in the Central Bar, Roscommon town (unless previously sold).

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Westmeath properties up for auction at Allsop event

Fri, Apr 18, 2014

Allsop Space have announced that it will offer 224 residential and commercial properties, including five properties from County Westmeath, under the hammer at its next public auction at the RDS on May 2. This is an increase of approximately 20 per cent on the recent February auction. The reserve total is €37m.

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Property transaction advice from Byrne Carolan Cunningham

Fri, Apr 18, 2014

Byrne Carolan Cunningham Solicitors are proud of their significant experience in all aspects of conveyancing transactions.

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Ninety-one acres of residential farm for auction

Fri, Apr 11, 2014

This residential farm is located right in the heart of the village of Laurencetown on the main Ballinasloe/Portumna road. Located just eight miles south of Ballinasloe and 12 miles north of Portumna, the lands will be offered for sale in several lots. One of the main lots is directly adjacent to the local church, close to shop and pub, and just across the road from the local community hall. The lots comprise the following:

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O’Donnellan & Joyce to hold all day auction next month

Fri, Apr 11, 2014

No 12 Leitir Burca.

O’Donnellan & Joyce has launched plans for an all day property auction which will take place on May 9, commencing at 10am in the Harbour Hotel, The Docks, Galway. The auction will see 51 properties going under the hammer in one day.

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Family home with panoramic views

Fri, Apr 04, 2014

This superb five bedroom family is home set on three quarters of an acre site with mature trees, within minutes of Mullingar town and close to a local school, church, and shops. The property has bright spacious accommodation and boasts panoramic views of the surrounding countryside.

The accommodation comprises a large main entrance hallway, leading to the kitchen/dining room, family room, sitting room, utility, shower room, spacious landing, five bedrooms (two have ensuite), and main family bathroom.

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Spacious and modern family home

Fri, Mar 21, 2014

This spacious four bedroom, two reception family home with detached garage set on a secluded site approximately 0.75 acres, spanning 1,970 sqft is a must-see. Built circa 2007 it is presented to the open market with excellent décor throughout and is located 5km from Delvin and 12km from Mullingar.

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Spacious home with panoramic views

Fri, Mar 14, 2014

Beautifully presented spacious five-bedroom dormer bungalow nestled on a one-acre site approximately with panoramic views of the countryside. The property is accessed via a block-built entrance with a gravel driveway and yard.

Presented in turnkey condition, it features a conservatory looking out to the rear garden, oil fired central heating, PVC double glazed windows and doors and is within close proximity to Ballinalack village and local shops.

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Delightful property in mature surroundings

Fri, Feb 21, 2014

Location: 30A Chestnut Drive, Mullingar

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