Breaking News
US firm bids 23 million for Eyre Square Shopping Centre
Galway Bay fm newsroom – A US firm has bid 23 million euro for the Eyre Square Shopping Centre.
According to the Irish Times, New York based Marathon Asset Management has emerged as the leading bidder for the freehold interest in the city centre.
The paper reports that Marathon Assest Management has agreed to pay approximately 23 million euro for the controlling interest in the shopping centre.
The investment includes the freehold interest in the centre, units occupied by New Look, JD Sports and Pennys, common area income, the ramps area and a former bank building at 19 Eyre Square.
The 60 unit centre currently produces annual rents of over 2 million euro and is expected to show an immediate return of 8.5 percent.
There is existing planning permission to replace the ramp entrance at Eyre Square with a three story building to accomodate five new retail units and a restaurant with deck area at first floor level.
City planners have also approved the use of the ground floor as a food outlet.
The centre is being sold by DTZ Sherry FitzGerald and DNG Commercial on behalf of the Bank of Scotland Ireland, who placed the centre in receivership.
The death has occurred of the former Bishop of Galway, Kilmacduagh and Kilfenora Martin Drennan, six years after he announced his retirement on health grounds. He was aged 78.
The Galway Diocesan Office confirmed the death this (Saturday) afternoon of the Bishop and Apostolic Administrator Emeritus, who oversaw the Diocese for eleven years.
Born on January 2, 1944 in Piltown, County Kilkenny, he studied for the priesthood at Saint Patrick’s College, Maynooth, from where he was ordained to the priesthood in 1968. His brother Michael is also a priest.
Following his ordination, he continued his studies in Rome where he was awarded a Licentiate in both sacred theology and sacred scripture. He returned to Rome in 1980 to become spiritual director at the Pontifical Irish College for the next five years.
He became a lecturer in sacred scripture at Saint Patrick’s College, Maynooth, where he continued to teach until his appointment as Auxiliary Bishop of Dublin in 1997 with responsibility for East Wicklow and South Dublin.
Following the retirement of Bishop James McLoughlin, Bishop Drennan was appointed Bishop of Galway and Kilmacduagh and Apostolic Administrator of Kilfenora and he was installed on July 3, 2005 in Galway Cathedral.
Outgoing Cllr Terry O’Flaherty (Ind) is on course to retain her City Council seat – and top the poll in City East.
With 33% of the boxes tallied, Cllr O’Flaherty is polling strongly, particularly in Renmore.
Michael John Crowe is ahead of his running mate Alan Cheevers for the Fianna Fáil vote, according to the early figures, although that could change when Doughiska and Roscam boxes are opened.
The Green Party’s Claire Hillery is on about 7%, with Fine Gael on 10% and Sinn Fein on 5%.
The opening of boxes for the local elections began at 9am this morning in Leisureland when the tallymen (and women) kicked into gear.
As regards the Galway County Council elections, the smaller areas are being opened first which means that the four-seater Connemara North boxes will be first in the pecking order.
It will be followed by Gort-Kinvara (5 seats), Connemara South (5 seats), Athenry-Oranmore (7 seats), Ballinasloe (6 seats), Loughrea (5 seats) and finally Tuam (7 seats).
The boxes in these areas will be opened and tallied in that particular order before being transferred to the Galway Lawn Tennis Club on Threadneedle Road where the counting will commence around mid-morning.
That is when the fun will really begin – although the tallies should give a good indication as to where most of the seats are destined.
As regards the city, the Galway City East boxes were opened first, followed by Galway City Central and finally Galway City West. These votes will be transferred to the Westside Centre by around 11am for counting.
There are 39 seats on Galway County Council to be filled with 18 on Galway City Council. The City Council count is expected to conclude on Saturday night but the County Council count – with seven electoral areas to be filled – could well go into Monday.
Families queue up for school’s offer of free house
West has lower cancer survival rates than rest
Galway minors continue to lay waste to all opponents
Gardaí and IFA issue a joint appeal on summer road safety
Marathon Man plans to call a halt – but not before he hits 160 races
