Large variety of investment properties set for auction

O’Donnellan & Joyce have a number of substantial investment properties for sale in their ‘Wild Atlantic Way’ summer auction which takes place on June 17.

Around 50 properties – with Advised Minimum Values totalling €9 million – along the Western seaboard will go under the hammer.

Auctioneer Colm O’Donnellan said: “There’s tremendous selection and variety which are very attractively priced, from high-profile licenced premises to gilt-edged investments throughout the Western seaboard.

“There are some excellent ground floor retail premises for sale with residential units overhead, giving the discerning investor or owner occupier the best opportunity to purchase properties with a combination of rental income streams.”

Among the investment properties included in the catalogue are:

Lohan’s Bar & Restaurant, Salthill. A prime property with five apartments overhead, all of which have views overlooking Galway Bay. The premises has a fully-fitted kitchen, and also includes an off licence.

The apartments at Darcy Court overhead comprise a communal entrance hall with stairs and a lift to first, second and third floors. There are 2 two-bed apartments on the first floor, 2 two-bed apartments on the second floor and a luxurious four-bed apartment on the third floor (originally designed as 2 two-bed apartments).  The rental income per apartment is in the region of €800 per month, while the 4 bedroom apartment is being sold with vacant possession.

There is a communal garden terrace on the second floor with the apartments accessible from Lenaboy Avenue.  The AMV for the block is €1.15m.

E.G. Canavan’s Bar, High Street, Tuam. Traditional licenced premises on the ground floor with smoking area and rear yard.  There are four office units overhead which could easily be converted for residential use. There are open viewings Saturdays from 2.30pm to 3pm. The AMV is €260,000.

For more, read this week’s Connacht Tribune.