Bank of Ireland's Munster HQ is sold for close to €13.5m 

The bank has ten years left to run on its lease at the South Mall location

Bank of Ireland's premises at 32 South Mall, Cork has been on sale since October.

A MUNSTER bank headquarters, No 32 South Mall in Cork city’s moneyed heartland, has just been sold for close to its €13.5m price tag and has been bought by a pension fund.

Cork City’s Bank of Ireland HQ building at 32 South Mall went up for sale in October of last year, being sold by a private investor and was described as a trophy asset. It has an annual return of €864,000, or 5.8% yield for its new owner for the next ten years.