Galway retail investment sells for over its guide price –

A retail investment property at 1 Shop Street in Galway City centre sold at an online auction last week for €2,006,000. That was €256,000 over its €1.75m guide price and also over the previous €1.95m guide price quoted for the property earlier this year.

t was sold jointly by BidX1 and QRE Property Advisers.

The building is let entirely to telecommunications firm Three Ireland.

Prominently located at the junction of Shop Street and Abbeygate Street, it comprises a five-storey over basement corner building. Its total floor area extends to a net internal area of about 307 sq m. (3,308 sq ft.) and gross internal area of 408 sq m. (4,398 sq ft.). In addition, it is listed as a protected structure.

Three’s 10 years lease runs from May 2016 at a contracted rent of €160,000 per annum.

Meanwhile BidX1 has announced the appointment of Johnny O’Connor as head of commercial

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