THE Sunday Business Post reveals that US property investors Kennedy Wilson has agreed to purchased the Alliance Building at the Gasworks development in Dublin 4 in a deal worth more than €40 million.
Gasworks was developed by Liam Carroll but Ulster Bank appointed Paul McCann of Grant Thornton as receiver to the development, which is now being sold by Savills. The selling agent has quoted a price of €43 million for the 210 apartments in the nine-storey block which has an annual rent roll of €3.5 million.
The Sunday Business Post says that Kennedy Wilson, which is an investor in Bank of Ireland, was the highest bidder for the development and a deal has been done for about €42 million.
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BRENNANS Bread and Irish Pride, two of the State’s biggest bakeries, have been raided as part of an investigation into alleged price-fixing, the Irish Mail on Sunday reports.
The raids were carried out by officials from the Competition Authority supported by officers from the Garda.
Computers and paperwork were seized during the raid on the Brennan’s facility in Walkinstown, Dublin, the paper says.
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THE Sunday Independent notes that senior management at Bank of Ireland have reduced their deposits at the bank by almost €30 million since the beginning of 2010.
The bank’s annual report reveals that deposits by “key management personnel” fell from €39.7 million at the end of 2010, to just €11 million last December. Bank of Ireland declined to comment on which senior managers had reduced their deposits.
The annual report revealed that chief executive Richie Boucher received a remuneration package of €831,000 last year.
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