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‘GILT-EDGED’ INVESTMENTS

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O’DONNELLAN & Joyce Auctioneers have brought two gilt-edged commercial and residential investment properties to the market.

Colm O’Donnellan said the properties in Galway City are sure to attract attention from potential investors.

The first property is No 9 St Francis Street, a modern building which was totally refurbished and constructed to the highest of standards in 2000.

The building contains two quality tenants.

The first tenant is the Legal Aid Board which occupies the first floor (2,217 sq ft); second floor (840 sq ft) and the third floor (586 sq ft.). The Legal Aid Board has a 20-year lease from April 1, 2000, with no break clause.

The second tenant is the National Association for the Deaf which occupies the ground floor – 1,610 sq ft. The lease term is 9 years and 11 months from September 30, 2012.

The property enjoys a high profile location on St Francis Street, which connects Eglinton Street to the Courthouse Square and is one of the main routes to NUIG and Galway Courthouse via the city centre.

The area surrounding the building is comprised mainly of offices and is adjacent to a number of well known Galway solicitors due to its close proximity to Galway Courthouse.

The second investment property is adjacent to the Galway Technical Institute, en route from Salthill to the city centre. No 8 Fr Griffin Road contains a large forecourt with parking to front. Part of the ground floor and part of the first floor is currently leased to the Crescent Pharmacy. These tenants are not affected by the proposed sale.

The remainder of the building comprises self-contained residential accommodation with three bedrooms.

“It is in exceptionally good condition throughout and has been maintained to a high standard with little or no work required.

“Anyone purchasing either of these properties and holding them for a period seven years, there will be no Capital Gains Tax on the disposal,” said Mr O’Donnellan.

Connacht Tribune

New President for Local Ireland

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Left to right, Bob Hughes, Executive Director, Local Ireland, Dan Linehan, Head of Irish Times Regionals and Declan McGuire, Operations Manager of the 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.

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Connacht Tribune

Employers’ group hears of key challenges facing businesses in the region

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Pictured at Regional Insight Series in the Galmont Hotel are: Trevor O’Rourke, (CEO, Fibre Networks Ireland); Senan Colleran, (Head ESB Assets, Generation & Trading, ESB); Eilish O'Sullivan, (Human Resources Director, Medtronic); Danny McCoy, (CEO, Ibec); Helen Leahy, (Head of Regional Policy, Ibec); Ruairi Conroy (Diligent Corporation) and Fergal O’Brien, (Executive Director of Lobbying & Influence, Ibec). PHOTO: Michael Dillon.

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

 

 

 

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Connacht Tribune

Survey finds one in five retailers in Galway want to go fully cashless

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Conor Quirke of BOI Payment Acceptance: move to card payments.

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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