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Wed 06 Jun 2007Consortium to spend €16m on bankInvestments: A business consortium is paying around €16 million on the redevelopment and acquisition of the Bank of Ireland branch in Wexford town.The bank's initial rent of €675,590 will reflect an immediate yield of 3.9 per cent. The 25-year lease will include a break option in year 15. It will also provide for upwards-only rent reviews every five years. The building extends to 1,838sq m (19,784sq ft) and is located at the corner of Commercial Quay and Commons Street. When ready to open, the bank will have raised access floors, suspended ceilings, air conditioning and a lift.