IRISH Life has now found buyers for all of its five former area sales offices in Dublin. Lambert Smith Hampton secured in excess of £350,000 for a mixed commercial and residential building at 93/95 Cabra Road, near Phibsboro. AIB occupies part of the building at a rent of £15,450 and when the former Irish Life office is let it will bring the rent roll up to about £33,000. Brendan Walsh and Associates acted for the purchaser.
In the last sale of the portfolio, First National Building Society paid about £35,000 for the leasehold interest in 11/12 Sundrive Road in Kimmage. The building consists of a retail unit of 4,355 square feet, of which about 2,000 square feet are let to Xtra-Vision. The remaining accommodation is to be refurbished and converted into a new branch office for the building society. Lisney acted for First National.
Sales of the five area offices yielded over £1.5 million for Irish Life.