IFSC building sales bag €40m for Martin Naughton and Lochlann Quinn
The sale of two International Financial Services Centre office blocks has generated profits of €40m for Martin Naughton and Lochlann Quinn.
The two businessmen have netted €50m for office building Harbourmaster One shortly after taking in €40m from the sale of another IFSC block.
The two sales have resulted overall profits of €40m, according to the Irish Times.
Harbourmaster One was originally bought for around €26m while the second building, George’s Dock 5, cost roughly €24m.
Harbourmaster One has now been sold to Irish Life for €50m while George’s Dock 5 was bought by State Street six months ago for just under €40m.
Mr Naughton is the billionaire founder of electrical goods giant Glen Dimplex.
Lochlann Quinn is the outgoing chairman of the ESB.