Pub and adjoining premises for sale in Loughrea

A total of 19 lots across Galway, Sligo and Clare are set to go under the hammer next week, with guide prices from as low as €20,000.

The DNG Maxwell, Heaslip & Leonard auction takes place in the Radisson Blu Hotel on Thursday, December 18 at 3pm, and comes just days before the ending of the Capital Gains Tax exemption scheme for properties held for seven years.

Alan Maxwell told Tribune Property: “The auction will afford the astute investor probably the last opportunity to ensure they can actually have a contract signed before the all-important deadline on December 31.

“This deadline means any buyer who has a contract signed on a property will not be liable to pay any Capital Gains Tax on the property if they hold onto it for seven years. This is probably their last opportunity to get an unconditional signed contract before year end,” said Mr Maxwell.

Included in the auction catalogue are properties in Galway City, Loughrea, Craughwell, Corrandulla, Oranmore, Doughiska, Ennis and Sligo and range from two-bed apartments to a 10,000 square foot commercial unit. The Advised Minimum Values start at €20,000 with the highest AMV being €195,000 for a block of three apartments in Galway.

“We have apartments in fully managed student complexes near NUI Galway and GMIT, city centre two-bed apartments from €110,000, and a detached house on 0.6 of an acre in the village of Corrandulla with an AMV €125,000.

“We have a mix of all types of property on offer, and the investor is sure to find incredible value. Included in this is the former Kitty K’s public house with adjoining building on Dunkellin Street in Loughrea.

“The pub was trading right up until this summer and while it’s in need of some modernisation, it comes with the advantage of a full seven-day licence,” said Mr Maxwell.

The site itself covers 460 square metres, while the pub has two floors of accommodation overhead that includes two bathrooms, four bedrooms, a kitchen, two lounges and ample storage.

The adjoining building, No 26 Dunkellin Street, formerly traded as a ladies’ fashion boutique and is in need of refurbishment.

“With the demand for seven-day licences, this building being offered with an AMV of €150,000 represents great value,” said Mr Maxwell.

For further information or to arrange a viewing, contact DNG Maxwell, Heaslip & Leonard on 091 565261 or visit dnggalway.ie