TWO RESIDENTIAL investment portfolios close to NUI Galway are to be offered for sale through local agent O’Donnellan Joyce.

The agency is seeking offers around €1.4 million for 14 terraced and semi-detached houses in the gated Bun na Leaca enclave opposite the entrance to the university. None of the newly developed homes have ever been occupied. Eight of them are ready for fit-out while the remaining six will each require an expenditure of around €30,000 to bring them to completion. Ten of the three- and four-bedroom houses have a floor area of 120sq m (1,300sq ft) over three levels while the remaining four gate lodges have around the same floor areas. Each of the houses is expected to rent for around €12,000 per annum.

O’Donnellan Joyce is also to auction on September 28th a block of five apartments at Donoratacio House in Newcastle at the request of receiver Farrell Grant Sparks. All the units have their own entrance doors. One of the apartments has a single bedroom, three of them have two bedrooms and the remaining unit has three bedrooms.

The selling agent says they have all been fitted out to a high standard and are producing a rent roll of between €42,000 and €45,000. The apartments are beside the recreation grounds of NUI Galway and have a guide price of €450,000. Agent Colm O’Donnellan says they have considerable interest in both residential portfolios, mainly from investors west of the Shannon.