A private investor has paid in excess of €900,000 for two adjoining retail buildings at 24 and 25 Drury Street, Dublin 2, which will show an immediate return of 5.6 per cent. Another building at the opposite end of Drury Street recently made in the region of €520,000.
Both buildings were owned by developer Bernard McNamara as part of the Madrid Portfolio. They were sold on the instructions of Declan Taite of receiver Farrell Grant Sparks.
David Carroll of Bannon, who handled the sale, said “The demand for the two buildings was exceptionally strong, with a dozen formal bids received after more than 100 enquiries. The investment team is the progress of finalising another sale along the street which received similar strong interest and will make it the fourth transaction on Drury Street the team have concluded along this stretch in the last 18 months”.
http://www.bannon.ie/wp-content/uploads/drury-street-24-25.jpg437700mvealehttp://www.bannon.ie/wp-content/uploads/bannon-commercial-property-2-1.pngmveale2014-04-09 13:30:452017-03-09 11:47:11Two Drury Street shops sold for €900,000