AIB to raise €100m in deal

AIB has confirmed that it could raise €100 million from the sale and leaseback of a new development at its headquarters in the centre of Dublin.

The bank said in a short statement last night it is in discussions with a number of parties “with a view to entering into a sale and leaseback transaction in relation to its new Bankcentre Development project.”

The bank has received planning permission to double the size of Bank-centre, which currently comprises a number of two and three-storey buildings. The expansion will be solely for AIB activities.

AIB said it was hopeful that a deal may be signed by the middle of the year, with the bank receiving €100m over a number of years.

Separately yesterday AIB Investment Managers have purchased a retail complex in Liverpool for just over €40m.

The deal is said to be one of the biggest property investments in Liverpool and continues the Irish buy up of land in Britain.

AIB Investment Managers bought 15 Parker Street, said to be one of the prime locations in the city, which is experiencing an economic boom. The seven-storey 135,000 sq ft building currently houses a Tesco supermarket and discount retailer TX Maxx and was sold by Swiss bank Credit Suisse.

Andrew Richardson, of Knight Frank estate agents, which acted for AIB, said: “This is a substantial retail block situated in a prime retail position. The Irish investors were attracted by the high-quality covenant, excellent growth prospects and the substantial re-generation currently under way in Liverpool.”