Edenderry bank branch to be sold as part of €28.5 million portfolio

The 17 properties are up for sale

Justin Kelly

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Justin Kelly

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justin.kelly@iconicnews.ie

Edenderry bank branch to be sold as part of €28 million portfolio

Edenderry bank branch to be sold as part of €28 million portfolio

The building currently home to the Bank of Ireland branch in Edenderry is to be sold as part of a large property portfolio spanning the entire country.

Joint agents Murphy Mulhall and Cushman & Wakefield are selling the 17 Bank of Ireland branches for the Layden Group, and the entire collection is being guided at €28.5 million.

It's understood the preference is for the properties to be sold as one portfolio but the group are willing to sell up in smaller lots in certain circumstances to facilitate earlier sales. 

The Bank of Ireland branch in Edenderry is the cheapest property in the portfolio with an asking price of €754,466 and fixed rent of just over €60,000. The combined rental income of the 17 properties is €2.29 million.

The other branches are located in Ardee, Co Louth, Arklow, Co Wicklow, Athy, Co. Kildare, Ballina, Co. Mayo, Ballyfermot, Dublin 10, Edenderry, Co. Offaly, Enniscorthy, Co Wexford, Fermoy, Co Cork, Longford, Loughrea, Co. Galway, Mallow, Co. Cork, Raheny, Dublin 5, Roscommon, Roscrea, Co Tipperary, Skerries, Co Dublin, Whitehall, Dublin 9 and 94 O’Connell Street, Limerick.

The most expensive of these is the Mallow property valued at  €3,220,274 with the rent set at €270,685. The Layden Group is embarking on a major overhaul of their portfolio with more re-balancing expected in the coming months. 

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