The ongoing withdrawal of Ulster Bank from the Irish market continues apace. Having recently announced the details of its latest redundancy programme, the bank has instructed agent Cushman & Wakefield to dispose of the first tranche of properties from its former bank branch network.
The initial phase of this process will offer 18 premises, comprising 10 freehold/long-leasehold units and eight leasehold units to the market. The 10 freehold/long leasehold interests are on high-profile pitches across the country. These include Main Street in Gorey, Co Wexford; Wexford town; Athlone, Co Westmeath; Mallow, Co Cork; Ennis, Co Clare; Carlow; Palmerstown, Dublin 22; Stillorgan, Co Dublin; and one close to Dublin Airport on the Swords Road. The guide prices for these properties prices range in value from €230,000 to in excess of €500,000. The freehold/long-leasehold properties are being marketed on a private treaty basis.
The leasehold interests currently held vary widely in terms of lease length and passing rents. The leasehold properties are predominately in Dublin with a few farther afield. The locations are New Street, Killarney, Co Kerry; Phibsborough, Dublin 7; Howth Road; Raheny, Dublin 5; Main Street, Swords, Co Dublin; Main Street, Dundrum, Dublin 14; Monastery Road, Clondalkin, Dublin 22; Terenure, Dublin 6; and Tuam Road, Co Galway.