News and Media
The Irish Times 31/10/2007
Irish firm pays €27 million for investments in Munich
Overseas Investments: Custom House Capital, one of the most active wealth management companies, has paid €27 million for three investments in Munich. The investments, a small shopping facility and two office buildings, will show a gross yield of 5.6 per cent, according to Knight Frank Ganly Walters.
The four-storey retail centre in the Grunwald suburb dates from 1998 and has a floor area of 2,628sq m (28,288sq ft) and 40 car-parking spaces. It has a bank, post office, jeweller, restaurant and offices. One of the office buildings, a five-storey block, has a floor area of 1,374sq m (14,790sq ft) and 37 car-parking spaces.
The other seven-storey block dating from 2004 has 950sq m (10,226sq ft) and 20 car-parking spaces. There is a single tenant, Allianz.
Harry Cassidy of Custom House Capital says the three properties have been allocated to different funds and added further diversification to well balanced portfolios.
© 2007 The Irish Times
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