News
Prime office complex on the market for €5m
The vacant Webworks building at the Fairgreen, along with the unfinished private coach station have been put on the market for less than €5 million.
The development was built at a cost of around €35 million by Workcast, a company belonging to ‘bankrupt’ developer Bernard McNamara, with some funding from Enterprise Ireland.
The receivers are now offering the office building, along with the coach station, and an unfinished development of 33 apartments. The coach station currently has nine bays, and there is permission for a further five bays there.
It is expected that a fresh planning application for the completion of the entire site will be drawn up by the receivers.
Aidan Gavin of DTZ Sherry Fitzgerald, which is handling the sale of the development, said the guide price is between €4m and €5m.
“There will certainly be interest in it, but it’s hard to say how quickly it will sell. It’s a beautiful office building, probably the nicest in Galway,” Mr Gavin said.
The site was purchased from Galway City Council for €6.1m, and the entire project cost in the region of €35m.
For more on this, see this week’s Galway City Tribune