Massive AIB sale at IFSC nets €78 million

THE landmark AIB office building in the IFSC has been sold for €78 million, with its value to its vendors cut

Buyers of the 100,000 sq ft IFSC gateway building with 137 parking spaces are a consortium of ten private and high net worth investors, in a deal brokered by Warren Private Clients and Jones Lang La Salle, supported by AIB Private Banking. DTZ represented AIB.

In the sale and lease-backAIB will take a new 25-year leaseat €5.05 million pa, giving a equivalent yield in excess of 6%.

John Moran of JLS described the building as "the gateway to the entire IFSC complex," and noted it was the biggest property sale of the year so far.

Details: JLS 01 6731600. DTZ Sherry FitzGerald 01 6399300