There is less than six weeks left for investors to avail of the Government’s tax incentive where property purchased before the end of the year and held for seven years will be exempt from capital gains tax, which is currently 33 per cent.
This is an opportunity not to be missed if you are now looking to invest in property.
Don Colleran’s next auction on November 27 will include two city centre properties for under €130,000 with rental potential of €900 a month each, and both qualifying for the Government incentive if purchased at the auction.
No 1 Olde Malt, Middle Street, is an attractive rooftop townhouse in the centre of the city. Superbly located behind secure gates, it is one of only six town houses all with their own front door, fronting onto a rooftop courtyard over the King’s Head and Olde Malt Restaurant. The location of this townhouse distinguishes it as a gilt edge investment for a shrewd investor as there will be year-round demand by tenants looking to rent in this popular city centre area.
Accommodation includes entrance hall, open plan kitchenette/living area, and on the first floor there is a large double bedroom, single bedroom, and bathroom. With an AMV of only €120,000, viewing is recommended.
Open viewing will take place this Saturday from 1.30pm to 2pm.
Also qualifying for the tax incentive is No 1 Caladh Mór, Woodquay, a small, beautiful, ground floor two bedroom apartment in turnkey condition, in the city centre and adjacent to the banks of the River Corrib. Its location will appeal to investors, offering guaranteed year round tenants, and less than a 10 minute stroll from the university, it will also appeal to parents looking for a secure home/investment while their children attend college in Galway. Accommodation includes two bedrooms, bathroom, and open plan kitchen/living/dining area.
There is also a small walled and paved courtyard to the front of the house. AMV is €115,000 and open viewing takes place on Saturday from 2.30pm to 3pm.
A third property also qualifying for the Government incentive which will be of equal interest to investors and those looking for a home in the city centre is No 18 St Nicholas’ Road, The Claddagh.
The Claddagh is now one of the most sought after addresses in Galway city because of its unrivalled location, close to every amenity from the city centre to the Promenade, all within one of Galway's longest established communities. No 18 St Nicholas’ Road is already generating huge interest because of its positioning within the terrace, giving beautiful uninterrupted views of Galway Bay and the Clare hills.
This extended terraced house now offers an abundance of living space with a very large kitchen/dining room with range and four bedrooms on the first floor.
There is a fifth bedroom/study on the ground floor, together with a sitting room and bathroom. In addition to the range in the kitchen there is also oil fired central heating. This fine property, while in need of some modernisation, gives the buyer an opportunity to put his/her own stamp on the house, thus adding even further value to it.
No 18 St Nicolas’ Road, at an advised minimum value of €250,000, will be included in Colleran auctioneers’ next auction on November 27 and open viewings are taking place every Saturday from 12 noon to 1pm.
For further details contact Colleran auctioneers at 091 562293.