Business
Biggest-ever auction with 60 homes on the market
The biggest-ever property auction in the West of Ireland – with more than sixty homes and commercial premises going under the hammer – takes place in Galway next month.
The O’Donnellan & Joyce auction takes place on October 3, and is also expected to be a big draw for investors, with a number of city apartment blocks up for sale.
Thirty-five properties going under the hammer are in Galway City, while there will also be a large amount of receivership properties across Galway, Mayo, Sligo and Roscommon.
Colm O’Donnellan told Tribune Property: “It’s a tremendous opportunity for buyers, particularly first-time buyers and investors. And for people who want to acquire a quality family home, then the auction is where they will find incredible diversity and value.
“Thirty-five properties are in the Galway City area, particularly in established locations such as Salthill, Newcastle, and Renmore where properties have been difficult to obtain.
“Investors are expected to be out in force, as this may be the last opportunity for them to acquire properties and avail of the tax incentive scheme, where there is no Capital Gains Tax if they hold them for a period of seven years.
“We will also be launching a large number of receivership properties which will cover the areas of Galway City and county, Mayo, Sligo and Roscommon.
“These properties will mainly comprise investments and will all be listed at extremely attractive reserve prices. Included on this list are a number of small apartment blocks within Galway City which are currently rented and are being sold with tenants in place,” said Mr O’Donnellan.
Among the properties set to go under the hammer are:
► 7 Burrenview Heights, Knocknacarra Road, Salthill.
Stunning 5/6-bed family home presented in immaculate condition. Close to Promenade and all amenities. Advised Minimum Value (AMV) €500,000. Open viewings Wednesdays and Saturdays 2pm to 3pm.
► 38 D’Alton Drive, Salthill.
Large four-bed family home located in one of the most popular areas in Salthill. On the doorstep of a number of notable schools in the area, also Galway Golf and Tennis clubs. AMV €410,000. Open viewings Wednesdays and Saturdays 3.30pm to 4.30pm.
► ‘St Rita’s’, San Antonio Terrace, Salthill.
Unique four-bed semi-detached family home with basement and small self-contained flat. Moments from the Promenade. AMV €300,000. Open viewings Wednesdays and Saturdays 5pm to 6pm.
For more, read this week’s Connacht Tribune.
The new President of Local Ireland, the association representing local news publishers around the country, is Head of Irish Times Regionals Dan Linehan.
Mr Linehan takes over the presidency from Declan McGuire of the Connacht Tribune. His appointment was confirmed at the recent Annual General Meeting of Local Ireland at Bloomfield House Hotel near Mullingar, Westmeath.
Mr Linehan, who has served as Vice President of the organisation for the last two years, said: “The coming years are a very important time for local publishers with many important issues to be addressed, including the implementation of the Future of Media Commission recommendations, defamation reform, the role and support for local publishers in public service reporting and helping publishers develop commercial digital offerings.”
Speaking at the AGM, Mr McGuire acknowledged the work done by the Executive in the past two years under the direction of Executive Director, Bob Hughes, on several projects related to the publishing industry but most especially the successful conclusion of the long-running campaign for the abolition of VAT on newspapers.
He also wished Mr Linehan the very best in his new role as President of the association for the next two years.
Mr Hughes thanked Mr McGuire for his leadership and support during his term of office and said he looked forward to working with Mr Linehan on the key policy priorities for the association, including Government supports, Government advertising, fair remuneration for content from the tech platforms and the reform of the legislation for defamation.
Local Ireland members also elected Seán Mahon, Managing Director of the Southern Star, as Vice President for the next two years.
The shortage of affordable housing is the single biggest impediment in attracting and retaining workers in the West, according to business group Ibec.
At a ‘Regional Insights Series’ meeting in the Galmont Hotel in Galway last week, employers were told that capacity constraints and labour supply are the key challenges facing business growth in the region.
Ibec Head of Regional Policy Helen Leahy said: “There must be greater focus by government on enhancing quality of life issues such as housing and infrastructure which are driving labour shortages in the region.
“Ibec’s vision for the West is to realise its potential to become a globally competitive location. An inadequate supply of affordable housing is now the single largest impediment to attracting and retaining talented workers, without whom business investment and expansions are not possible.
“Labour shortages are a real concern for businesses in the region. People decide where to live and work based on quality of life and access to high quality services and amenities. Industry tends to follow talent, and in this regard, the region needs to have all the building blocks in place as the attraction and retention of world-class talent becomes increasingly competitive on a global level,” said Ms Leahy.
Amongst Ibec’s priorities for the West are:
- Addressing housing and infrastructure challenges
- Transitioning towards a new growth model with Net Zero energy powered by Atlantic offshore wind resources
- Adapting businesses to the new economic realities
- Enhancing capacity and skillsets to achieve sustainable development objectives
- Investment in people and skills
- Creating competitive advantage through digitalisation
- Innovation as a key driver of productivity growth
One in five Galway businesses want to go fully cashless, as the move towards card payments and tapping continues unabated post-Covid.
In all, 22% of Galway businesses would like to be fully cashless, according to a survey carried out by BOI Payment Acceptance (BOIPA), a provider of payment technology solutions, which asked Irish businesses about the current payment landscape as well as business confidence and concerns.
Over one-third (36%) of Galway businesses were unaware there is no contactless limit on mobile wallets – just below the national average – while 54% believe the increase in card over cash transactions has helped them run their business.
Six out of ten Galway businesses expect to grow this year despite the cost-of-living crisis and running costs dominating as key concerns; 62% believe their business will grow over the next twelve months despite global economic uncertainty.
Unsurprisingly cost-of-living increases and running costs were the main concerns the majority of businesses had.
For more, read this week’s Connacht Tribune.
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