A private investor has paid £7.2 million for a large warehouse and office complex occupied by Irish Express Cargo at Raheen Business Park, Limerick. The deal will produce a yield of 7.7 per cent. Irish Express Cargo has taken a 25-year lease of the building, which includes 112,000 sq ft of warehousing and 10,800 sq ft of offices. Another newly completed building in the park, let to the same tenant, was bought by Irish Life. The two sales have netted over £14 million for developer Jerry O'Reilly.

Chesser Auctioneers are letting agents for the park.