Apartment blocks sold

A DEAL worth around €16m has been reached on the first bank/receiver sale of an entire apartment and retail scheme in Cork, at suburban Dennehy’s Cross.

Irish investors, the Comer brothers from Galway and who are primarily UK based, came to the fore in a highly significant deal negotiated by Savills. It is part of a larger, €75m 640-apartment sell-off for Ulster Bank, in Dublin and Cork

The 142-unit Orchard Gardens scheme, with retail units and a Tesco Express developed by Frinailla, is being bought as part of what’s seen as a key test for residential investments, notably finding Irish buyers.