In a sign that the property market may be changing, investors are flocking to look at properties currently on offer in O’Donnellan and Joyce’s monster mid-summer auction which will be held in the Victoria Hotel, Eyre Square, Galway, at 3pm on Friday July 20. The agents report that a large number of investors are starting to look for properties in central locations which are easy to let.
Colm O’Donnellan of O’Donnellan and Joyce Auctioneers outlines that many of the houses on auction are situated in established locations and within walking distance of the city centre, and would produce a strong rental yield of anywhere between eight and ten per cent.
Properties at the auction include:
No 26 Gleann Noinin, College Road, which is an ideal investment property located just off College Road and situated within five minutes walk of Eyre Square in a high quality development, incorporating well maintained landscaped gardens and ample parking. The property comprises a two bedroomed duplex apartment, is finished to the highest of standards and has an AMV of €100,000. Open viewings take place Wednesdays and Saturdays 11am to 12 noon.
No 33 Caireal Mor, Headford Road, Galway. This two bedroomed spacious townhouse is in impeccable condition and is only two miles from the city centre. The property is of a modern standard and has an AMV of €95,000. Open viewings are Wednesdays and Saturdays 12.30pm – 1.30pm.
No76 Mullan Mor on the Tuam Road. This secure first and second floor duplex contains bright and spacious accommodation and a very attractive guide price of €90,000. Located approximately within two miles of the city centre and adjacent to some of Galway’s largest employers. This property has been referred to as a gilt edged residential investment. Open viewings take place Wednesdays and Saturdays 12.30pm – 1.30pm.
No 8 Rahoon Road, Shantalla, is also causing quite a stir at the open viewings, as it is one of the most impressive detached properties to come on the market in some time and is situated within walking distance of NUI Galway and the city centre. No 8 Rahoon Road has been totally refurbished in recent years to provide a modern and spacious detached residence, with four large bedrooms and off street car parking. This property would be a quality investment due to its convenience to Galway’s major institutions, NUI Galway and UCHG. Has an AMV of €125,000. Open viewings take place Thursdays and Saturdays 12.30pm – 1.30pm.
Other properties which are within walking distance of NUI Galway and UCHG:10 Hazel Park, Newcastle. A three-bedroomed spacious semi-detached residence located on a corner site in an area which always produces extremely strong rental returns. Located within a leisurely stroll of the IDA Business Park and NUI Galway with an AMV of €147,000. Open viewings take place Wednesdays and Saturdays 2pm – 3pm.
No 48 Dangan Heights, Newcastle, is a three bedroomed semi-detached residence located in the established residential area of Dangan Heights, Newcastle. This property has been tastefully refurbished and modernised in recent years and is in walk in condition. Dangan Heights is an extremely attractive residential neighbourhood directly adjacent to the playing fields of NUIG. AMV of €160,000. Open viewings Wednesdays and Saturdays 5pm – 6pm.
There are two city centre residential investments at 14 St Bridgets Place Lr, Woodquay, Galway. An end of terrace residence situated in the very heart of the city centre, it is divided into two apartments, two bedrooms on the ground floor, and a three bedroom on the first floor. Maintained in pristine condition and generating an excellent rental return, the option is available to convert it back into a family home. Situated in an ideal location as it nestles between Prospect Hill and Woodquay, in the very heart of Galway city centre and is a quality residential investment. AMV of €150,000. Open viewings Wednesdays and Saturdays 3.30pm – 4.30pm.
No 48 Prospect Hill is also on offer and is located just off Eyre Square, which is currently used as a three bedroomed house and adjoining one bed self-contained apartment. The house contains living room and kitchen on the ground floor with three bedrooms on the first floor. The apartment comprises of open plan kitchen/living room and one large bedroom. Described by the agents as ‘Better than money in the bank,’ it is situated just off Eyre Square, just off Galway’s main commercial centre. Open viewings Wednesdays and Saturdays 3.30pm – 4.30pm. AMV €150,000.
No 11 Beechmount Rd, Highfield Park. This property comprises a three/four bedroomed semi-detached residence situated in one of Galway’s most sought after residential areas. Located within a minute’s walk of Taylor’s Hill with every convenience at your doorstep. AMV €150,000. Open viewings Wednesdays and Saturdays 11.am – 12 noon.
No 17 Walsh’s Terrace, Woodquay, is another property attracting interest from investors. Situated in the heart of the city centre, one of Galway’s oldest and most established residential areas, located only a stone’s throw from the city centre and equal distance to the River Corrib. The property would provide the ultimate townhouse and is ready to walk into. The total square footage is 1,250sq ft. Open viewings Wednesdays and Saturdays 3.30pm- 4.30pm. AMV €250,000.
No 79 Tudor Lawn, Newcastle, an ideal investment, measuring over 1,400sq ft of modern living accommodation is only minutes away from NUI Galway. This is truly a rare property to come on the market and is in exceptional condition throughout. Viewings are Wednesdays and Saturdays 2pm – 3pm. AMV €250,000.
The largest property on offer is a five bedroomed detached residence at 187 Dun na Coiribe, Headford Road, Galway. This property contains four large bedrooms on the first floor with master bedroom en suite and a dressing area which is interconnected between the en suite and the room itself. Dun na Coiribe is one of Galway’s most highly acclaimed residential areas. AMV of €295,000. Open viewings Tuesdays and Saturdays 3.30pm – 4.30pm.
The final property to be auctioned off is a real gem at incredible value at 6 Westlodge, Athlone. Offered for sale on the instructions of receivers RSM Farrell Grant Sparks. Comprising a semi-detached residence with space in abundance, it is within walking distance of all major amenities. It would provide the ultimate investment with an AMV of only €45,000. Open viewings Tuesdays and Saturdays 11am – 12 noon.
For further details contact O’Donnellan & Joyce (091 ) 564212.