Sixteen lots set for online auction

The Lár na Cathrach complex at Abbey Trinity in Tuam – which includes 13 retail units and 20 apartments – is set to be one of the highlights of the upcoming Allsop online auction on December 13.

A total of sixteen properties in Galway will go under the hammer in the auction, which comprises a total of 240 properties nationwide.

Jonathan Fenn, Allsop’s Divisional Director, said: “Despite the potential for market uncertainty in a year that has witnessed both a General Election and Brexit, our results to date suggest a healthy investment market. Housing remains in short supply so we expect our December catalogue to draw significant interest. Apartments in prime city centre locations in Dublin and Galway, and multi-unit lots offering asset management and development potential, are key features of our latest offering.”

The highlight of the commercial offering in Galway is a mixed-use investment in Tuam (Lár na Cathrach) comprising 13 ground floor retail units, first floor commercial accommodation and 20 two bedroom apartments over the second and third floors.

The property is subject to multiple tenancies with a total annual rent of €159,500, but also offers potential to enhance return as there is vacant possession of 11 ground floor retail units, the first floor commercial accommodation and 1 apartment.

The reserve price for the development is €1.2m to €1.3m.

Another lot set to generate huge interest is the former Cottage Bar in Lower Salthill, which is for sale with a one-bed and 2 two-bed apartments overhead. The block comes with a price tag of €460,000 to €470,000.

Residential highlights for Galway include a mid-terrace five-bed house at 72 Lower Salthill, which extends to 1,237 sq ft and has a reserve price of €255,000 to €265,000.

No 74 Lower Salthill is a mid-terrace three-bed house measuring 850 sq ft and with a reserve price of €230,000 to €240,000.

In the city centre, Apartment 19 at Hynes Yard on Dock Road is a first and second floor three-bed apartment measuring 1,076 sq ft, which is currently generating rent of €16,800 per annum. The reserve price if €205,000 to €215,000.

At Cúirt na Rasaí in Ballybrit, apartments 27 and 28 are both two-beds on the second floor measuring around 650 sq ft and rented at €7,000 per annum. They both have reserve prices of €70,000 to €80,000.

At Dún na Rí in Athenry, Number 7A is a semi-detached four-bedroom house 1,205 sq ft, which is currently rented at €6,000 per annum. The reserve range is €155,000 to €165,000.

Also up for auction in Tuam is the former furniture store on Shop Street, a mid-terrace retail building, with around 10,200 sq ft, with accommodation overhead. The reserve range is €85,000 to €95,000.

In Killtullagh, Glenamaddy, a four-bed detached house, which is vacant and measures 1,850 sq ft, has a reserve price of €60,000 to €70,000.

There are two lots of land set for auction in Ballygar – a 12-acre parcel at Tullyroe with frontage onto the N63 has a reserve range of €85,000 to €95,000; at Hermitage, a parcel of 13.26 acres which is ‘occupied on terms unknown’, has a reserve of €65,000 to €75,000.

The auction takes place on December 13. For further information, visit the online auction section of allsopireland.ie