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Monday, 22nd April 2024
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BOI hopes to repeat Parisian coup Back  
Bank of Ireland will be hoping to repeat its recent success in the Parisian property market, whereby it made almost €100 million in profit in just 18 months, with its latest commercial property offering for investors.
Bank of Ireland Life has a new investment opportunity for Irish investors with €50,000 to spare – a share in a Parisian building 44 rue de Lisbonne located in the city’s ‘golden triangle’.

The bank will be hoping that this latest opportunity will be as successful as its last in Paris, when a syndicate of 100 BOI private banking clients agreed to sell an office complex leased to Cartier for €370 million. They had bought it for €285 million in December 2005.

Commenting on the launch, Bernard Walsh, head of investments at Bank of Ireland Life, said, ‘44 Lisbonne satisfies all of the rules of successful property investment; it is excellently located, superbly fitted out to suit the headquarters of professional clients, and it has high growth potential in rental yields.’

Also making money from foreign property investment are some clients of Ulster Bank Wealth. Evans Randall, the UK based investment banking and private equity group, will deliver a substantial return of cash for some of Ulster Bank Wealth’s following the refinancing of one of its key London property assets.

The group will return to investors around ?20m of their initial ?34.5m investment in the Financial Services Authority (FSA) headquarters at 25 North Colonnade, Canary Wharf, London E14, following a ?205m refinancing deal with Credit Suisse.

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