Lochlann Quinn is the man that chaired Ireland’s biggest bank, the Allied Irish Bank until 2003. The bank was nationalised last week, and its previous head is now looking for new owners for his Old Bond Street property in Central London. The property we are talking about is located on 16 Old Bond Street, one of the poshest commercial areas in London. The price tag on this place is £30 million.
Quinn has asked property consultant Fineman Ross to be in charge of the sale. He is selling the freehold of the building at this site. It happens to be the flagship store of designer brand Prada. The sale would include the offices above. The total rent coming from this property is a whopping £1m a month! Though the asking price is being considered a little steep but it will definitely attract a lot of buyers considering the great location.
Old Bond Street seems to be recession resistant as the property sales here in the past few months have been close to those seen before the recession. That is great news for Mr. Quinn. Other possible sales in this area are by an Indian investor who is selling 120 Holborn, for around £150m, and Invista Real Estate Investment Management and Delancey who are planning to sell their Rolls Building for £300 million.