The third and final summer auction hosted by leading Galway property firm DNG Maxwell Heaslip & Leonard takes place tomorrow (Friday ). Bringing the hammer down on what has been an exceptionally busy summer for the firm, Friday’s auctions will see 16 lots being brought to the market featuring a mix of commercial and residential properties.
“We have seen a huge increase in sales in the market over the last couple of months, in both the auction and private treaty markets, and a definite appetite for well-priced properties has again emerged in the market place,” said company director Fergal Leonard. “We spend time with our vendors to decide on the best price point and method of sale for their particular property and our entire team is involved in some element of the sales and marketing process. This strategy is working for us and our vendors and our success rates are testament to this.”
The first offering at tomorrow’s auction is a quaint thatched cottage in the townland of Corranellistrum in Moycullen. This property has been recently thatched and sits on approximately 0.35 acre. The house features a sitting room, two bedrooms, a kitchen, and a bathroom and is in need of some modernisation. O’Halloran’s Public House is nearby, with the village of Moycullen only 6km away. This is an executor sale and this cottage offers an excellent opportunity for a fishing enthusiast to acquire a lakeside property. This is a once in a lifetime opportunity to acquire a truly quaint cottage in a spectacular location, with Lough Corrib on its doorstep. The guide price for this property is €65,000 and the solicitor with carriage of sale is Mary O’ Malley, Russell & O’Malley sols, Kilrainey Shopping Centre, Moycullen.
Nos 1 and 2 Cuirt Eanna, Long Walk
Numbers 1 and 2 Cuirt Eanna are located in one of the most picturesque locations in Galway city. The Long Walk has been the subject of more art pieces than probably any other vista in Galway, and it is here that Cuirt Eanna can be found, close to the historic city walls and the Spanish Arch. Cuirt Eanna is a secure residential development which was built by O’Malley Construction almost 10 years ago.
A pair of almost identical one bedroom townhouses over two storeys, these properties overlook a central landscaped courtyard and are set back from the river. Approximately 650sq ft each, the units have a central hallway, a combined kitchen/dining/living area, and a double bedroom and bathroom at first floor level. The scheme has been very well maintained and has a proven record as one of the premium sought after letting locations in the city due mainly to its excellent location and generous specifications. With an attractive AMV of just €99,000 per unit, there is much to catch the eye of prospective buyers. The solicitor with carriage of sale is Caroline Gore-Grimes, Gore & Grimes, Cavendish House, Smithfield, Dublin 7.
No 51 Dominick Street, Galway
As investment properties go, No 51 Dominick Street is sure to attract the attention of shrewd buyers who prizes rental return along with premium location. This is a mid-terrace building over 2.5 floors with a floor area of just over 2,200sq ft. The ground floor is leased on a 25 year lease from 2007 at a contracted rent of €60,000, although there is a temporary reduction to €48,000 in place. The new tenant has opened the very successful Dela restaurant and this tenancy is not affected by the sale. The two overhead floors accommodate a three bedroom apartment with independent access from street level and this, although currently vacant, should easily realise a further €10,000 per annum when rented. With a very realistic guide price of €475,000, the buyer of No 51 Dominick Street will have the certainty of knowing that the deal is secure, and that they will have purchased some of the best value property in Galway city. Pascal Mullery of Mullery solicitors, Woodquay, Galway, will handle the carriage of sale.
This picturesque bungalow in Castlehacket, Caherlistrane is on a site of almost 1.5 acres. This partially renovated farm cottage is in a quiet setting with views of the landmark Knockma Hill, the purported burial ground of Queen Maeve. Being sold to include double glazing, new wiring, and plumbing works, this house has just over 800sq ft of living space with three bedrooms and offers huge potential to those seeking a first time buyer home with scope for expansion. The property has a rear yard with two large outbuildings and a garden to the side of the cottage. Within 10 minutes of Tuam and 30 minutes from Galway, this delightful property offers peaceful rural living combined with easy access to all amenities. Being offered for sale with a guide price of €60,000, this is truly great value. Eric Gleeson of Gleeson & Co sols, Shop Street, Tuam, will look after the carriage of sale.
Tully village is positioned on the Renvyle peninsula with the rugged Atlantic Ocean on one side and Killary Bay on the other. Just a few of the nearby attractions include the world famous Kylemore Abbey, Renvyle House Hotel, and a host of stunning beaches. This 4.2 acre site is in a single plot in the centre of the village and overlooks Renvyle Pier. The owners, at some expense, have obtained full planning permission for seven architecturally designed homes, with extensive use of glass to take advantage of the views. The planning permission provides for all associated services, including effluent treatment, which will also afford an opportunity to further develop the site over time. The site offers an opportunity to be a project for a collective of friends, or a family, who could join forces to have a home in the area, or alternatively this could be developed to site level with services to provide serviced sites to the market. Guiding a hugely attractive asking price of €80,000, full details and maps are available on request and Donal Downes of O Dea & Co solicitors, Hardiman House, Eyre Square, Galway, will take care of the carriage of sale.
No 1 The Fairgreen, Galway
City centre apartments are still proving as popular as ever, and lot number seven sees an offering at Fairgreen House which could not be any more central. Built in a rooftop scheme over an office block with a multi storey parking development, No 1 Fairgreen House is adjacent to the city bus and rail stations.
This is a two bedroom unit of c650sq ft with an open plan kitchen and living area, a bathroom, and two spacious bedrooms. The development is accessed by a secure gated entrance from either Ceannt Railway Station or from opposite the new bus station at Fairgreen. This property has been occupied until recently at an annual rent of €9,000 and, with management fees of just €650 per annum, offers an excellent return for your money. Although car parking is not included, tenants can avail of special rates in the adjacent multi-storey on monthly or annual basis. The AMV is €130,000 and Michelle Henry of Doherty & Co solicitors, Seville House, New Docks, Galway, will handle the carriage of sale.
Moving out to County Galway and to the renowned home of the oyster, Clarinbridge, where a bungalow on the Galway side of the village will go under the hammer. Sitting on a site of c0.2 acre and measuring c112sq m, Hillpark, Clarinbridge, comes to the market in reasonable condition and offers a fantastic opportunity to create a beautiful family home in a friendly and welcoming community, without the need for major renovation. All amenities are within strolling distance and the property has the added advantage of being zoned village centre (mixed development ), giving it potential commercial usage. Accommodation includes a sitting/dining room, kitchen, three bedrooms, a bathroom, and wc. The AMV on this property is an attractive €130,000 and the solicitor with carriage of sale is Caroline Gore-Grimes, Gore & Grimes, Cavendish House, Smithfield, Dublin 7.
No 53 Dominick Street, Galway
No 53 Dominick Street is an outstanding investment opportunity located in the vibrant and emerging culinary quarter of the city. Standing over 2.5 floors with an area of 1,700sq ft, the ground floor space of approximately 800sq ft is occupied by the award winning and Michelin starred restaurant Aniar, which has all the gastro critics in raptures since its opening in 2011. There is a 10-year lease in place here from 2011 at a contracted rent of €18,200 per annum and there is a three bedroom apartment overhead with independent access from street level. This apartment should easily realise an annual rent of €10,000 per annum when let which is a very attractive income.
The very realistic AMV of €190,000 is sure to attract investors’ interest, especially in view of dismal deposit rates currently on offer from the financial institutions. The carriage of sale will be handled by Pascal Mullery of Mullery solicitors, Woodquay, Galway.
Commercial unit, Clarinbridge
The next offering is a commercial unit on c.0.3 acre in Clarinbridge. The unit measures approximately 2,000sq ft, spanning two levels, and includes a workshop to the rear of the building measuring circa 3,000sq ft. There is also a yard to the side of the buildings measuring almost 6,600sq ft. The property is fully alarmed and comes to market in need of repair. Located in the heart of Clarinbridge village, this property would have many uses as it is zoned for village centre use. The AMV on this property is an attractive €180,000. The solicitor with carriage of sale is Caroline Gore-Grimes, Gore & Grimes, Cavendish House, Smithfield, Dublin 7.
No 20 Raleigh Row, Galway
A recently renovated two bedroom semidetached house in the ever-popular west end of Galway city, No 20 Raleigh Row is totally modernised, has been re-plumbed, re-wired, dry lined internally, and is finished to the highest standards. Adjacent to the Jes primary school, the location is ideal for those seeking a home close to all amenities and within a short stroll of the city centre. Being sold to include extensive tiling, wood floors, a modern kitchen, a large rear yard, and private off street parking for two cars, this gorgeous property will come to the market with an AMV of €170,000 which represents fantastic value in any market. Geraldine Dooley of Blake and Kenny sols, Francis Street, Galway, will take care of carriage of sale.
Units 7, 20, and 48 Millbrook, Milltown
If you are looking for a very keenly priced investment then look no further. These three commercial units are on offer in the recently developed scheme of Millbrook in the centre of Milltown. This village in North Galway has a predominately rural hinterland with some of the best agricultural land in the west of Ireland close by. The scheme is a mixed residential/commercial development which has blended very well with the existing village infrastructure. The units are purpose built and each comprises c500sq ft with independent access onto street level. There is ample public parking which is common space.
These commercial units are securely let at €8,000 per annum with all tenancies unaffected by these sales. Unit 7 has accommodated a successful takeaway business for over five years, and Unit 20, similarly, contains a successful beauty salon in business for the past five years. With all other units in this scheme fully let this really is an excellent opportunity for a keen investor to get in early before the market turns and take advantage of gross returns in excess of 25 per cent per annum. Unit 48 has been let on a temporary basis at a nominal rent to an IT consultancy and this would easily convert to a retail unit or secure office premises. Fronting on to street level with a traditional shop front, there would be very little cost in opening up here. The reserves for all three units are set at just €25,000 each. The solicitor with carriage of sale is Harry Bell, Bell & Carroll sols, Middle Street, Galway.
The popular residential area of Corcullen is the setting for this substantial family home just 9km from the city centre. Corcullen is a rural setting between Galway and Moycullen that is within easy reach of the city and a short commute to both NUIG and UHG. This property stands on an elevated site of c0.5 acre, has been substantially built with first fixed electrics and plumbing, and will require completion. With a floor area of 2,450sq ft this property is most spacious and has five bedrooms, two en suite, a fine kitchen/dining room, two living rooms, and a separate conservatory. High quality PVC windows and doors are fitted throughout, the boundary walls are faced with cut stone, and the site will need landscaping. Being offered to the market with an AMV of €180,000, this property is exceptional value as a high end family home. Phillip Ryan of McSweeney & Co solicitors, Liosmoyle House. St Augustine Street, Galway, will handle the carriage of sale.
This large detached family residence in Ballintemple, Castlegar, is located in the east suburbs of the city. This impressive modern home is situated close to the main access routes in and out of Galway with the M6 motorway just minutes from the front door. The house, which comprises approximately 2,850sq ft of living space, stands on a site of c0.5 acre of gardens and although currently in use as self contained units, this property offers those looking for a well proportioned home the opportunity to put their own stamp on it at no great expense. Being brought to the market with an exceptionally attractive guide price of €165,000, this quality built property is certain to get heads turning. Michael Bradbury of MJ Bradbury sols, Glenrock Business Park, Tuam Road, Galway, will handle the carriage of sale.
The auctions will take place tomorrow (Friday ) at 3pm in the Imperial Hotel, Eyre Square, and can also be viewed live on www.dnggalway.ie or www.advertiser.ie For further information on this auction or for details of listing your property in the September 2013 auctions contact DNG Maxwell Heaslip & Leonard on 091 565261.