Investec Ireland negotiates £19m sale of London property

The Irish branch of international banking group Investec, has today announced that it has achieved a sale price of £19m (€28.2m) on behalf of an Irish investment syndicate through the sale of 2 Seething Lane, London EC3.

The sale represents a gain of 125% on the equity invested over the three and a half years since the property was purchased in May 2003 for £14.8m (€21.9m) on a net initial yield of 8.3%.