Firm adds to portfolio

AN iconic building in Foxrock, Co Dublin, which hit the headlines in July over a rent dispute has been bought, in an off-market deal, for over €1.5m as, separately, a UK investor Development Securities also swept up two other Dublin buys, for a combined €16m.

Increasingly active investment firm Ireland World Investments (IWI) acquired The Gables (originally Findlaters) in the leafy and affluent Foxrock village in a just-concluded deal worth €1.5m.

It followed the resolution of a rent row after a summer stand-off over a repossession move between the building’s owner Daphne Kaye and tenants McCabes, who run restaurant and wine bar The Gables there. It’s the latest in a series of €1m-plus purchases in Cork and Dublin by IWI, who predict they will have acquired €100m in investments by 2016.