Work is well underway on O'Malley Construction's £25 million (€31.75m) Fairgreen House commercial and residential development beside Galway city's railway station.

The development - a minute's walk from Eyre Square - is attracting considerable interest from investors, mainly because its 409-space multi-storey car-park comes with highly attractive tax breaks. Purchasers can write off rent against taxable income up to the value of construction costs.

This mixed development, which should be completed in time for next summer's Galway races, also includes 2,000 sq m of office space, 2,000 sq m of retail space and 23 two-bedroom apartments.

The ground floor and basement are designated for offices or retail. According to O'Malley Construction, an opportunity exists to introduce a mezzanine floor to bring the combined floor space up to 25,000 sq ft.

Each floor consists of around 11,500 sq ft, at a sales value of £300 (€380) per sq ft, while the smallest area available for purchase is 5,000 sq ft.

There are 23 roof-top two-bedroom apartments enjoying views over the city and, although no prices have been agreed for these as yet, they should start from around £175,000 (€222,250).

The site, a former abattoir acquired two and a half years ago, is located close to the heart of Galway city and enjoys good access to private and public transport routes.

A new connecting road from Lough Atalia and Foster Street has spearheaded the rejuvenation of this part of the city.

O'Malley Construction - which has been very much to the fore in mixed residential and commercial developments in Galway - strongly continues this trend with Fairgreen House.

Designed by O'Connor Keogh & Mulcaire, Fairgreen House is contemporary in appearance with curved glass walls, innovative concrete forms and creative exterior finishes. All residential, office and retail areas are naturally lit.

Retail units on the ground and lower ground floors are positioned to the front of the building to maximise ease of access and window display area. The offices above are served by elevators and have direct access from the covered car park.

Given that Fairgreen House is surrounded by apartment blocks, houses, offices and four hotels, there should be strong interest in its retail units.

Ease of access, a central location and extensive parking will appeal to those looking for office space.