Investor pays €94m for 30 bank buildings

Developer Joe Layden has paid €94 million for a Bank of Ireland portfolio in a sale and leaseback deal which shows an initial yield of 3.9 per cent, writes Jack Fagan

A single purchaser has bought 29 retail branches of the Bank of Ireland as well as its call centre in Kilkenny. The Layden Group, headed by property developer Joe Layden, has paid €94 million for the portfolio in a sale and leaseback deal that will show an initial yield of 3.9 per cent.

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