WELL-KNOWN DONEGAL BANK IS PUT ON THE MARKET FOR ALMOST €2.7MILLION

The well-known Bank of Ireland building in Letterkenny

The Bank of Ireland building at Letterkenny’s Market Square has been put on the market.

DTZ Sherry FitzGerald and Sherry FitzGerald Rainey are looking for in excess of €2,690,000 million for property which is producing €190,000 a year under a 25-year lease that has 21.8 years to run.

A strong selling point is the five-yearly rental uplifts for the duration of the lease, with the next increase in September 2016 set to increase the annual income to €218,500.

The two-storey bank building extends to more than 836sq m (9,003sq ft) and underwent a complete refurbishment in 2011 when an extension to the rear was also completed.

The layout includes a banking hall at ground floor level with offices and staff facilities on the first floor. There are six car-parking spaces to the rear.