Business
Series of investment opportunities to go under the hammer
O’Donnellan & Joyce Auctioneer hold their next auction on April 17, with a total of 30 properties set to go under the hammer, in a mix of residential, investment and commercial opportunities.
The first commercial property is located in the heart of the busy town of Claremorris, Co Mayo and is made up of a mix of four retail units with nine residential apartments overhead.
Three of the commercial units are held on long leases by the well established Paul Byron Shoes, while the fourth unit is operating as a laundrette. The residential units are located overhead and there are currently four out of the nine units rented.
The Advised Minimum Value is €300,000. Open viewings on Thursdays from 1.30pm to 2.30pm.
Situated on the edge of Moycullen village are two units located within the Kilrainey commercial complex. Both units are being sold individually. Unit 1, which is currently vacant and measures approximately 900 sq ft, was previously run as a takeaway. It would be suitable for a number of different uses. Open viewings take place on Wednesdays from 6pm to 7pm.
The second unit is Unit No 6 and is currently leased as a hardware store. At 900 sq ft it is generating a rental income of €1,000 per month. Both units face directly onto the main Galway/Clifden Road.
The AMV for each unit is €70,000.
A retail unit with an apartment overhead located at Old Street, Athenry will also go under the hammer. The ground floor unit measures 600 sq ft and is currently leased to NCBI (National Council for the Blind), generating a rental income of €600 per month.
There is a three-bed apartment overhead which requires modernisation. The apartment contains its own separate entrance off the main street.
The AMV is €80,000. Open viewings take place on Wednesdays and Saturdays from 11am to noon.
There are two industrial/warehouse units for auction in the Ballybane Industrial Estate on the Tuam Road in Galway. Both enjoy high profile locations, with neighbouring businesses such as McDonoghs Hardware and Citylites.
The first one is No 9 Royal Rock and comprises a ground floor warehouse with office space overhead and measures 1,850 sq ft. The ground floor is currently let to Galway Garden Machinery Repairs. The first floor is office space avails of its own separate entrance and toilet facilities.
The AMV is €50,000.
The second property is a warehouse unit of 6,400 sq ft with a mezzanine floor of 1,500 sq ft. This property is currently vacant and would be suitable for a number of different usages. The AMV is €230,000. Open viewings are Wednesdays and Saturdays from 10am to 10.30am.
The final commercial property to be auctioned will be Unit 2 Buttermilk Walk off Middle Street in Galway. The unit comprises two ground floor retail units extending to 620 sq ft.
Each unit has its own entrance with shared storage space to the rear.
The AMV is €90,000. Open viewing is on Friday from 5pm to 5.30pm.
■ For further information, contact O’Donnellan & Joyce Auctioneers on 091 564212 or visit odonnjoyce.com
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.
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
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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