Oireachtas Joint and Select Committees

Thursday, 2 April 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Mr. John Moran:

I am not privy to that and have no idea. At the time in 2007, Athlone Town Centre was being leased up to international occupiers such as Zara, H&M and Marks & Spencer's. These were the type of companies that were going into it. At the time, shopping centre yields probably were trailing in at approximately 3% or 4% capitalisation rates so the valuation probably was sustainable at that moment in time. However, it goes to the fact that it is a snapshot in time.

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