BV Commercial guiding €1.55m for apartments near Galway city college

Site with 11 three-bedroom units is across from Mayo Institute of Technology

Galway agents BV Commercial are guiding €1.55 million for 11 three-bedroom apartments directly across the road from the Galway Mayo Institute of Technology in Galway city.

The Ceann Boirne investment comes for sale with a gross rental income of €168,000 which can be increased to €175,000 per annum.

The complex is let as GMIT student accommodation from September 1st to 31st May and producing a rental income of €135,000. Holiday lettings from June 1st to August 31st produce a further €33,000 with scope to increase this.

There is also the opportunity to let in the long term to the private professional sector.