Land at Letteragh Road, Rahoon sold under the hammer at auction on Wednesday last 19 October. The land sold to a prominent Galway city centre developer and consisted of approx 1.67 hectares (4.1 acres) with the benefit of full planning permission for 73 residential units.
Bidding opened at 4.5 million and after intense interest with 44 bids, finished up at 6.85 million. Paul McLoughlin of Sherry Fitzgerald Kavanagh commented that this sale underscores the viability and demand for development sites in Galway and the confidence amongst the building and development community, in the future demand for residential property.
27 Hynes Yard, Dock Road also sold on the day. With a guide price of 450,000 and full Section 23 allowances providing tax relief on rental income. This duplex waterside apartment came with one car space. Strong interest resulted in a spectacular sale price of 605,000.
26 Dr. Mannix Road, a substantial semi-detached residence on a large corner site in Salthill with a guide price of 525,000 was withdrawn from auction.
For further details, contact Sherry Fitzgerald Kavanagh on firstname.lastname@example.org or (091) 569123.