Irish Life gets £1.5m for offices

IRISH Life has now found buyers for all of its five former area sales offices in Dublin

IRISH Life has now found buyers for all of its five former area sales offices in Dublin. Lambert Smith Hampton secured in excess of £350,000 for a mixed commercial and residential building at 93/95 Cabra Road, near Phibsboro. AIB occupies part of the building at a rent of £15,450 and when the former Irish Life office is let it will bring the rent roll up to about £33,000. Brendan Walsh and Associates acted for the purchaser.

In the last sale of the portfolio, First National Building Society paid about £35,000 for the leasehold interest in 11/12 Sundrive Road in Kimmage. The building consists of a retail unit of 4,355 square feet, of which about 2,000 square feet are let to Xtra-Vision. The remaining accommodation is to be refurbished and converted into a new branch office for the building society. Lisney acted for First National.

Sales of the five area offices yielded over £1.5 million for Irish Life.