Bank of Ireland Group has launched the EUR 150 mln European Retail Property Portfolio to purchase prime retail properties in targeted European markets. The fund is seeking individual investors willing to accept an element of risk and to invest a minimum EUR 50,000 by the 31 January 2008.
Bank of Ireland Group has launched the EUR 150 mln European Retail Property Portfolio to purchase prime retail properties in targeted European markets. The fund is seeking individual investors willing to accept an element of risk and to invest a minimum EUR 50,000 by the 31 January 2008.
So far the diversified portfolio of different locations, concepts and varying leases contains two properties valued at over EUR 1 bn, a retail park in Liverpool and a retail park in Zaragoza, Spain. With current property assets of around EUR 2.6 bn Bank of Ireland Private Banking has given investors an average annualised return of 26.1%.
Besides the favourable environment for investing in the European retail sector another factor cited was the targeted locations all sharing a combination of high consumer spending, an undersupply of modern shopping formats and excellent rental growth potential.
