AIB Private Banking in €10.6m English properties deal

AIB Private Banking has acquired, on behalf of a client, the freehold interests of three single-let retail units in Canterbury, Richmond-upon-Thames and Southport in England for £7.315 million (€10.6 million).

4th December, 2004

AIB Private Banking has acquired, on behalf of a client, the freehold interests of three single-let retail units in Canterbury, Richmond-upon-Thames and Southport in England for £7.315 million (€10.6 million).

The deal reflects an initial yield of 5.2 per cent upon settlement of an outstanding rent review on the property in Southport and a full reversion of 5.28 per cent.

The portfolio was bought from Arlington Property Investors on behalf of Windsor Life Assurance Company.

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