Mick Wallace sale nets €250k for AIB

State-owned AIB has pocketed €250,000 from the €295,000 sale of one of Independent TD Mick Wallace’s main firm’s four Temple Bar apartments.

The apartment at 43 East Sussex St was part of a group of four apartments that once had a value of €2.5m and were formerly owned by Mr Wallace’s main firm, M&J Wallace Ltd.

AIB appointed Gerry McInerney of McInerney Saunders of Swords as receiver to certain assets of M&J Wallace Ltd in 2012. According to Mr McInerney, the three unsold apartments have a total value of €900,000 leaving the overall value of €1.195m after the sale of Apartment Two at 43 East Sussex St is taken into account.