Wexford man buys €650,000 AIB bank
A County Wexford investor has paid €650,000 for the AIB bank branch in New Ross, €200,000 above the initial asking price.
The building is rented at €66,900 per annum.
Joint agents Stephen McCarthy of Savills and REA McCormack Corish reported strong interest in the investment which was initially sold in 2007.
The 20-year lease includes five yearly upwards only reviews and a break clause in 2022. The large, three-storey over basement building extends to 441sq m (4,747sq ft).
The property, which is located in the centre of the town on the main street, comprises of a three storey over basement mid-terraced commercial building extending to 363 sq.m with off street parking.
One of New Ross's most prominent buildings, it is a landmark edifice in the Barrowdside town where many people are employed. The sale does not affect the business which will continue in situ.
The entire premises, which includes ten car parking spaces, is leased for a term of 20 years from March 2007, subject to a passing rent of €66,900.