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Dublin: 16°C Wednesday 6 July 2022

Central Bank completes sale of its Dublin HQ for €67 million

The iconic Dame Street building has been sold to real estate investors Hines Ireland and Peterson Group.

90428948_90428948 Source: Rollingnews.ie

THE CENTRAL BANK has completed the sale of its iconic Dublin city centre building to an group of international real estate investors.

The bank this morning confirmed that the sale price was for “in the region of €67 million”.

The sale had been in the pipeline for some time given the bank’s pending move to its new Dublin Docklands location, on the site of the never-finished Anglo Irish Bank HQ.

The bank will maintain a presence on its current premises, which was first constructed in 1978, until the end of March 2017.

Central Bank Head Office - Dublin The site of the Central Bank's new headquarters, a building initially intended for Anglo Irish Bank, in Dublin's Docklands in 2015 Source: Brian Lawless

The sold buildings, comprising the Tower and Commercial buildings at 6-9 College Green off Dame Street in the south city centre, have been acquired by a partnership between Hines Ireland, the Irish arm of international real estate firm Hines, and Hong Kong-based property investors Peterson Group.

“We are delighted to be partnering with Peterson Group on their first dealings in the Irish market,” said Hines Ireland managing director Brian Moran.

Given their enviable locations and potential, the Central Bank buildings and 2 Grand Parade both represent excellent investments for Hines Ireland and Peterson Group.

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It is the first such foray in the market by that partnership. Along with the Central Bank HQ, the group has also acquired 2 Grand Parade in Dublin 6 – formerly the headquarters of the now-defunct Irish Nationwide Building Society, and currently leased to online sales giant Amazon.

The sale-price for the Grand Parade premises is unknown, although the combined price of the two properties is understood to be in excess of €100 million.

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