Friends First sells three commercial properties following markdown of fund values
Aviva claims sales are not due to liquidity concerns, but represent ‘business-as-usual’ transactions
Friends First Irish Commercial property fund is in the process of selling three commercial properties. Among them is the Bank of Ireland premises in Balbriggan, Co Dublin, whose sale is due to complete shortly. When it launched on the market last May, agent Savills quoted €6.65 million for the building at 24/26 Dublin Street. It comprises a 677 square metre modern building that is producing a total annual rent of €432,456.
A fund spokesperson said its guide...
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