Half Ilac Centre sold for €121m

PROPERTY developer Joe O’Reilly has paid €121 million for a 50% stake in the Ilac shopping centre in Dublin.

Mr O’Reilly, the developer of the massive Dundrum shopping centre which opened earlier this year, bought the stake from the British Land company.

The other shareholder in the Ilac Centre, which is on Henry Street, is Irish Life. It had an option to buy the shares from British Land.