Vacant Faustina Centre on Tuam Road is suitable for offices, shops and a restaurant

A vacant, two-storey over-basement commercial building suitable for offices, retail and restaurant use known as the Faustina Centre on Tuam Road in Galway goes on the market today through agent TWM for more than €1.3 million.

The high-quality block was developed in 2008 and extends to 2,524sq m (27,170sq ft)-1,217sq m (13,100 sq ft) of retail space at ground-floor level, with offices and restaurant on the first floor totalling 1,307sq m (14,564sq ft). The double basement levels provide parking for 74 cars.

The building has been completed to shell and core finish and a new owner will obviously complete the works needed to facilitate the targeted occupiers. A new owner may also review the existing planning uses.

Rosemary Casey of TWM is expecting considerable interest in the property which has the potential to create an attractive investment. She said that with the guide price equating to €48 per sq ft, it was significantly less than the build cost for a development of this quality, particularly one with underground parking.

“With negligible deposit rates investors continue to look for solid investment opportunities and this lot size will attract good interest,” Ms Casey said.