Value beyond the pale

A second multi-million euro Waterford sale — the AIB bank branch in the heart of the city for close to €2.25 million to a private investor - is imminent. It comes on the back of the just-concluded sale of the Fitzwilton Hotel, to an Austria-based investor, for €3.2m.

The Waterford AIB bank sale follows on the successful sale of a Tralee Bank of Ireland branch at auction last week, for just over €3m, equivalent to a 9.2% return (see separate story over).

Both Waterford deals indicate returns to investors of over 8%, showing an appetite for purchases outside the capital, based on better value and healthier returns.