Lot 5483080, Tolan Street, Ballina, Co. Mayo, F26XK06

Sale Type: For Sale by Private Treaty
Overall Floor Area: 178 m² Tolan Street, Ballina, Co. Mayo, F26 XK06
FOR SALE BY PRIVATE TREATY

Former licenced premises with full planning permission granted on 2nd December 2022 for proposed development of three apartments consisting of 3 x 1 bed apartments.

Approved for the Repair and Leasing Scheme with Mayo County Council. The interest free loan has been approved for ?180,000 (?60,000 each) to repair the building into 3 apartments and lease to Mayo County Council on a 20 year lease.

The rent is guaranteed by Mayo County Council, who will maintain the apartments over the 20 year lease, except for the common areas. This amount is likely to increase because the rental income is reviewed every 3 years. Once works commence, the contractor will issue an invoice for the different stages of works, this is issued to the council and then the money is released.

The property is also exempt from planning permission under new regulations, to convert into a single residential property. There is an option to avail of the Vacant Property Refurbishment Grant of ?50,000k.

NOTE: These particulars are not to be considered a formal offer. They are for information only and give a general idea of the property. They are not to be taken as forming any part of a resulting contract, nor to be relied upon as statements or representations of fact. Whilst every care is taken in their preparation, neither O’Donnellan & Joyce Auctioneers nor the vendor accept any liability as to their accuracy. Intending purchasers must satisfy themselves by personal inspection or otherwise as to the correctness of these particulars. No person in the employment of O’Donnellan & Joyce Auctioneers has any authority to make or give any representation or warranty whatever in relation to this property.

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DIRECTIONS:
EIRCODE F26 XK06GPS co-ordinates - 54.1129759,-9.1543906