Dublin Apartment Previously Owned By Mick Wallace’s Firm Sold

DUBLIN APARTMENT PREVIOUSLY OWNED BY MICK WALLACE’S FIRM SOLD

AIB bank has received 250,000 euro from the sale of a Dublin apartment which belonged to construction firm M and J Wallace Ltd.

The apartment at 43 East Sussex street was sold for 295,000 euro and is one of four apartments in the complex which are owned by Wexford Independent TD Mick Wallace’s former company.

The apartments at one time had a value of 2.5 million euro while the remaining three are now valued at around 900,000 euro.

AIB appointed receivers to certain assets owned by M and J Wallace Construction in 2012.

Last year the bank received just over 500,000 euro for a site in Walkinstown for which it had loaned four million to the company to buy at the height of the boom.

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