Property investment in AIB and Kerryman heritage building ‘a vote of confidence’ in Tralee

Private investor spends €1.5m on pension property with annual income close to €160,000

9 - 10 Denny Street Tralee SFSC

A MUNSTER private  investor has paid €1.5 million for a historic Tralee town centre building, which houses The Kerryman newpaper, an AIB commercial bank presence and three apartments.

Getting a return of c 11%, the new owner of 9-10 Denny St has secured the three-storey Georgian period building which earlier had accommodated the National Bank of Ireland (later, the Bank of Ireland) from a private investment consortium who, in turn, had bought it about a decade ago, post-crash in banks and property.