London property sale nets €70m profit for investors
Anglo Irish Bank and a company owned by the developer of the Jervis Street shopping centre in Dublin have made a profit of €70 million in just two years on a London property investment.
A joint venture between Anglo and Paddy McKillen’s Clarendon Properties sold the Royal Opera House portfolio of properties in Convent Garden to property company Capital & Counties for €188 million, having bought it for about €114 million in 2005.
Clarendon is owned by McKillen and Tony Leonard, and its Dublin properties include the Powerscourt Centre on South William Street and the Habitat store on Suffolk Street.
It also owns the Savoy Centre in Cork...
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