REDEVELOPMENT SITE:ONE OF the best redevelopment opportunities for a retail operation in Galway city goes for sale by tender on July 4th.

Garvey's licensed premises at the junction of Eyre Square and Forster Street is likely to make over €11 million when it is sold by Colm O'Donnellan of agent O'Donnellan & Joyce.

The high profile business premises has 111ft of frontage on to both streets and is opposite Ceannt railway station which is set to be redeveloped as an important shopping enclave as well as for commercial and residential facilities.

A number of property transactions in and around Eyre Square in the past year have prompted speculation that the area is to undergo major changes over the next few years.

Garvey's, which has been run as a successful licensed premises since it was rebuilt about 10 years ago, has a total floor area of 942sq m (10,139sq ft), including a ground floor area of 297sq m (3,200sq ft).

The likelihood is that it will be bought either as a bank centre or for a retail operation, including possibly a bar.

There are 18 double bedrooms overhead.