Mullery auctioneers and CBRE this week announced that they have been instructed as joint agents to offer for sale by private treaty lands comprising approximately 20.96 acres located at Rahoon, Galway.
The subject lands comprise approximately 14.01 acres which are zoned residential with a further 6.95 acres of agricultural zoned lands.
The sale represents a prime development opportunity in an area where there is currently strong demand and a shortage of homes for sale. Three bed semidetached houses in the area are achieving prices in the region of €180,000 to €200,000, while four bed semidetached houses are achieving in the region of €220,000 to €250,000. The lands have access from both the Letteragh Road and a link road off the Rahoon Road and are situated about 3.8 kilometres from the city centre, only 2.4 kilometres from NUIG and two kilometres from University Hospital Galway. The lands are situated adjacent to a number of modern housing developments and close to Knocknacarra and local amenities including the Gateway Shopping Centre and Westside Shopping Centre.
Planning permission had previously been granted on part of the subject lands for 207 residential units, crèche, and three commercial/retail units. This planning permission has now expired.
Joint agents Mullery auctioneers and CBRE are quoting a guide price of €1,400,000 for the lands.
Further details can be had by contacting Mike Mullery of Mullery auctioneers, Galway, on 091 567275 or Wesley Rothwell of CBRE on 01 6185548.