Equity Bank is part of the Bank of Scotland Group with assets in excess of Stg £47bn and operates from headquarters in Dublin and a regional office in Belfast The cornerstone of its success has been in identifying and specialising in niche markets. The cases emerged as a result of an inquiry conducted by the Howard League. The UK markets offer increasingly attractive opportunities for overseas individuals especially those utilising such an appropriate vehicle. one of the UK's leading and largest chartered surveyors with offices in London and 35 other locations across the country, currently capitalised at some IR £75m. The property is let to Liverpool Victoria on a 20 year lease from 1994 with a break in June 1999 and currently produces an annual rental income of £426,000 This investment sale shows a net initial yield of 9.5 per cent. a 2,044 sq m/22,000 sq ft building was sold for £2.6m to V V Property Fund advised by Henderson Real Estate Strategy The property is let to People's Bank of Connecticut on a 20 year lease from September 1997 with a tenant break between 2000 and 2002 It currently produces an annual rental income of £247,500, and the sale represents a net initial yield of 9.17 per cent.
Both investment sales were completed before the Stamp Duty deadline set in March's budget These sales follow closely behind the disposal of 500 Pavilion Drive, which was also sold to V V Property Fund in January 1998. Drivers Jonas provided additional advice to Henderson Real Estate Strategy. Claire's Accessories, advised by their retained agents Blair Kirkman have taken two further units in Ireland, adding to their shops in Belfast, Newtownards and Portadown. Claire's has taken Unit 15A at The Flagship Centre, Bangor's covered shopping centre with tenants including Argos, The unit comprises 63.6 sq m (685 sq ft) and has been taken on a ten year lease at a rent of £18,500 per annum A six month rent-free was agreed from March 1st.
Lambert Smith Hampton acted for the Centre owner, Flagship Developments Ltd.Co. Antrim, Claire's Accessories have taken an assignment of the lease on Unit A2 Bow Street Mall The premises comprise 52 sq m (562 sq ft) of ground floor sales and were taken on an assignment from clients of Eastwood Estate Agents The 25 year lease runs from September 1988 with 5ve yearly reviews. Current rent is £22,500 per annum. Chris Blair from Claire's retained agents Blair Kirkman comments These deals demonstrate Claire's commitment to expanding their retail presence in Ireland We are currently looking for more units both in Ireland and in a wide range of centres we have targetted throughout the UK, and we expect further deals to be announced shortly.