Investors looking for an excellent return on their investments would be well advised to look closely at some of the properties featuring in DNG Maxwell Heaslip & Leonard’s forthcoming auction on Friday July 24 in the Radisson Blu Hotel, Lough Atalia, at 3pm. A range of properties ideal for investors are going to the auction floor, boasting returns of between six per cent and 10 per cent gross yields.
First up is No 121 Gleann Na Ri, Merlin Park, a top floor duplex penthouse apartment in the much sought after Gleann Na Ri development on the east side of Galway city. Part of a modern purpose built estate, this fully managed complex is currently part of a pooled scheme and offers an excellent gross rental yield of up to 7.5 per cent. Cathal O'Dea, Coghlan Kelly solicitors, Trinity Chambers, South Street, New Ross, Co Wexford, phone 051 429100, will handle the carriage of sale. The AMV is €75,000 and open viewings are on Saturdays from 3.30pm to 4.30pm.
No 56 St Brendan’s Avenue, Woodquay, is a two bed terraced house located just off Eyre Square, with NUIG, UHG, and all this vibrant city has to offer on its doorstep. No 56 is in need of some modernisation but given its location, you are guaranteed a strong rent for 12 months of the year and buyers can expect a gross yield of nine per cent. Michael J Bradbury, Michael J Bradbury & Co solicitors, Unit 12 Glenrock Business Park, Bothar na Mine, Tuam Road, Galway, phone 091 768030, will handle the carriage of sale, and the AMV is €115,000. Open viewings are on Wednesday and Saturday from 2.30pm to 3.30pm.
Abbey Court, Abbeygate Streeet, is likely to draw the attention of the more seasoned investor. This portfolio of four properties comprises three adjoining townhouses and a detached two bedroom bungalow which form part of an infill development. Part of a terrace of six units, Nos 13, 14, and 15 are three storey and No 9 is a two bedroom detached bungalow with own door access. Each property looks onto a secure courtyard with a small yard to the rear. The development is built approximately 12 years and is in good condition. The AMV is €480,000 and investors can expect to enjoy an extremely attractive gross rental yield of 10 per cent. The solicitor with carriage of sale is Trevor Collins, Kilfeather & Co solicitors, The Halls, Quay Street, Galway, phone 091 562037.
An exceptionally well located three bedroom duplex townhouse apartment of c970sq ft in a modern secluded development, No 40 The Elms, College Road, is close to Eyre Square. This property is in top class condition and ready for immediate occupation. Ideal for an owner occupier, the townhouse also offers the potential of an excellent expected gross rental yield of six per cent. The solicitor with carriage of sale is Padhraic Harris, Padhraic Harris & Co solicitors, Merchants Gate, Merchants Road, Galway, phone 091 562062. The AMV is €230,000 and open viewings are on Wednesday and Saturday from 1pm to 2pm.
Further details on all auction properties are available from DNG Maxwell Heaslip & Leonard on 091 565261 or www.dnggalway.ie The auctions take place on Friday July 24 in the Radisson Blu Hotel, Lough Atalia, at 3pm.