‘GILT-EDGED’ INVESTMENTS

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.