Wednesday April 8, 2020

Merrion sues over ‘errors’ in German property valuation

Postal distribution centre initially valued at €11.5 million in 2006

Barry J Whyte

Chief Feature Writer

@whytebarry
3rd April, 2016

Merrion Stockbrokers has taken legal action in Germany over a property valuation that overvalued a Celtic Tiger-era investment in a postal distribution centre.

The investment firm initiated legal proceedings last year against a German property valuer over that firm’s 2006 valuation of the postal distribution centre, which is based in the small German city of Wuppertal.

According to documents seen by The Sunday Business Post, the postal distribution centre had been initially valued at...

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