Building fetches €4.3 million

A SOUTH Mall Cork building being sold by insurance company Allianz made €4.3m at auction yesterday, ahead of its €3.5m price expectation via Aidan Boland of Lisney.

Vendors Allianz had the unexpected windfall at auction yesterday of No 51, a five-storey modern office building held on a 99-year lease from 1943.

At the junction with the narrow lane of Grafton Street, the investment office/showroom building was bought with vacant possession by estate agent Frank Sheahan.