THE Limerick headquarters of Bank of Ireland on O’Connell Street has been bought for €10.5m by a private investor it has emerged this week.
The sale of the building comes at a post boom loss of more than €6m to the original buyer.
The property which sits on the junction of Limerick’s main thoroughfare and Bedford Row was sold by Knight Frank who had acquired the building for its previous owner in €17m euro deal during the property boom.
This week, the three storey, 2,095sqm building changed ownership to an unnamed private investor.
Bank of Ireland hold a 25 year lease on the property which was signed up to in 2006 and rent the building for €685,736 pa and is subject to upwards only rent reviews every five years.
