O'Connell Street building makes £250,000 profit

A FORMER AIB bank building at 63/64 Upper O'Connell Street, Dublin 1, has been resold within a few months at a profit of over £250,000.

Last January. PC Rentals, a small property company, paid close to £900,000 for the four-storey over basement building, which has 8,700 square feet. The company has now sold it on to Mr John Clohessy's Eight to Twelve Group for more than £1.25 million. It will be used for a Spar convenience store. PC Rentals built The Friary scheme in Temple Bar, which included eight apartments and a restaurant now trading as Luigi Malones. The retail investment has since been sold to a private investor.