Donegal BoI sold for over €900k

The Bank of Ireland at the Diamond in Donegal, sold as an investment in 2007 for €1.9 million, has sold again for just over €900,000. Bannon, who were acting for receiver Declan Taite, had quoted €795,000 for the 278sq m building. The bank currently pays a rent of €73,105 under a lease with 10 years to run. The new owner will get a net return of 7.7 per cent on the investment.