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Iconic Central Bank building finally on the market

The Dame Street premises and adjoining buildings are expected to sell for over €65 million.

29/1/2009. Central Bank Quarterly Results The Central Bank on Dublin's Dame Street Source: James Horan/RollingNews.ie

THE CENTRAL BANK’s Dame Street premises in Dublin looks set to be sold in the coming months.

The bank and its selling agents Lisney have opened the sales process for the premises, including the Tower Building and Commercial Buildings, 9 College Green and 6-8 College Green.

The much-anticipated sale could see the buildings being sold as one or in lots. Reports indicate the sale is expected to make in the region of €65-80 million.

City centre staff will relocate to the Central Bank’s new building in North Wall Quay and the nearby Spencer Dock building.

The Central Bank has been in Dame Street since December 1979 and the move to North Wall Quay is expected to be completed in early 2017.

29/1/2009. Central Bank Quarterly Results The Central Bank on Dublin's Dame Street

All city centre staff are impacted by the move, including employees based in Iveagh Court and the Central Bank’s lease on that building will not be renewed.

In all, more than 1,500 staff will relocate. The Currency Centre at Sandyford is unaffected by the move.

An announcement on the preferred bidder for the properties is expected to be made by the end of the year.

Architectural importance

In a statement, the Central Bank said it is “aware of the architectural, cultural and economic importance of the Dame Street premises to the city centre” and has commissioned Henry J Lyons Architects “to undertake an indicative masterplan study to inform potential renewal or redevelopment of the site and identify possible future uses”.

29/1/2009. Central Bank Quarterly Results The Central Bank on Dublin's Dame Street Source: James Horan/RollingNews.ie

Paul Molumby, director of currency and facilities management at the Central Bank said the organisation is starting the sales process “with affection for the Dame Street properties, including the historic tower, which have served us so well, and excitement about the move to North Wall Quay area and the enhanced ways of working that at our new premises will bring”.

Molumby said the move is necessary as employee numbers increase.

“The Central Bank is committed to achieving full market value for the Dame Street premises, while recognising the public interest in the process,” he added.

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