To the bank: Portfolio of 17 banks for sale for €28.5m

Layden Group selling Bank of Ireland branches that yield combined rent of €2.29m

Bank of Ireland in Mallow, Co Cork, is the highest-value branch in the portfolio, valued at €3,220,274. Photograph: Peter Moloney

Bank of Ireland in Mallow, Co Cork, is the highest-value branch in the portfolio, valued at €3,220,274. Photograph: Peter Moloney

The Layden Group is to embark on a major revamp of its commercial property holdings by selling 17 Bank of Ireland branches in the Dublin suburbs and provinces.

Joint agents Murphy Mulhall and Cushman & Wakefield are guiding €28.5 million for the portfolio, which will show a blended net yield of 7.4 per cent – considerably more than was offered in recent sales of individual bank branches.

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