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THE CENTRAL BANK of Ireland has confirmed its purchase of the former Anglo Irish Bank building site on North Wall Quay in the Dublin 1 area, a move that has been welcomed by the National Asset Management Agency.
A statement was issued this afternoon to acknowledge that the bank had signed contracts with the statutory receiver of North Quay Investments Limited, which is in receivership.
The Central Bank had already announced that it intended to complete the construction of the existing building on the site – with some modifications – and relocate its headquarters there.
The agreed purchase price of €7 million was also previously publicised in May 2012.
A spokesperson for NAMA said the purchase and planned development is “an important signal of improving sentiment and activity in the office market”.
“The development of the North Wall Quay site is also important for the future development of adjoining lands within this key strategic location.”
The bank currently employs around 1,400 staff, many of whom are based in the bank’s Dame Street offices. The remaining staff are spread across six other premises used by the bank.
Before its collapse, Anglo Irish Bank had plans to move its HQ to the space.
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Ok I’m sure there are some happy people that this deal is happening…… but is it just me or are people not questioning why an island this small needs a ‘central bank’ to have 1400 staff , especially since the powers moved to EU with single currency , then they buy a new premises instead of downsizing , they failed miserably to manage the financial crash , and four years later instead of actually fixing the massive growing mortgage debt problem they kick the can down the road , but it’s ok they are buying shiny new offices while the country can’t afford homecare for elderly…we are truly loosing the run of ourselves
to be fair dave, consolidation of the 6 buildings into 1 office makes sense. also completing what is a blot on the liffey landscape can only enhance this area of dublin. Im sure rent and sales of the other properties can facilitate someway towards the move.
All on the provision we dont see some sort of union decision of a ‘movement or relocation’ allowance. Now that crap is ridiculous.
hmm maybe , but what are the plans for the (pretty large) Dame Street building ?? , do they really need the 6 offices at the moment ? As NIB and many other banks are closing retail branches who has identified what size and staffing are appropriate for a central bank on an island this size , and again there still seems to be no recognition that we moved most of the powers like setting interest rates etc away from the Central Bank. Im not against getting the anglo building sorted and I liked the recent suggestion that the bank of Ireland old parliament building might revert to state ownership and be turned into a library or museum etc , but for me some questions about the Central Bank pathetic performance of regulating our financial crisis still need some answering and ‘growing’ them into a shiny new development during the current crisis just looks pretty self serving to me.
Which is it Dave? Are they now powerless or should they have been able to prevent the financial crash?
Which is it because you seem to be implying both?
Dave before the crash the Financial Regulators office (a division of the Central Bank) numbered 30 staff. Matthew Elderfield is on record as saying financial regulation in Ireland needs somewhere in the region of 600 staff. After what has gone on here with the banks I’d much prefer there be 600 people on the Regulators team than 30.
@Paul Mc….well its a matter of fact that the single currency led to a reduction in functions for the Central Bank such as setting interest rates etc….and Its also a pretty evident matter of fact that their regulation was clearly very ineffective on a banking system that played no small part in the crash of our economy requiring them to be bailed out…so maybe to your mind they are either powerless or should have been able to regulate better and cant have been both , but actually there is a strong case to be made that after the single currency shifted responsibilities to the ECB then they should have been in a position to reorganise their regulatory functions and played a MUCH more effective role in the crisis. The article is actually about them buying new headquarters not their poor performance or policies, but I am just asking why they are been given a free pass to move and build new headquarters at this point in time when they appear to be getting off the hook for pretty appalling performance in the past decade.
with ya 100% on that Dave
The folks in Occupy Dame Street will be fairly distraught if they have to move now to an area without a starbucks or wifi signal nearby.
The old central bank building is to be turned into a super-club.
There was a suggestion made that the Government could offer the current Central Bank HQ to Bank of Ireland in return for them moving from the main College Green building. This could then be restored as a museum and a location for the central library which at the moment is in an awful place on the second floor of the ILAC centre.
The idea was that this should coincide with the pedestrianisation of the area around College Green and Trinity to make a significant public space right in the heart of the city. I think it would be a great idea.
How much did Anglo pay for it back in the day?
Anglo never bought it the plan was to move hq there once it was built
Regardless of Central Bank moving to the quays, I’d like to know what’ll happen to the current offices! I hope the building isn’t just allowed to rot, at this point it’s a fairly big landmark!
Why?
Try reading the article rather than just the headline
The old building is a protected structure and is going nowhere it would be great if the college green swap with BOI could take place lets not get the hopes up
With another few million they could buy East Wall
Give them a discount and we’ll take college green off them.
The Central Bank building should be flattened and turned into our Ground Zero Memorial Park.
A nice feature would be a monument to Patrick Neary, Bertie Aherne, Sean Dunne, Brian Lenihan and Sean FitzPatrick to warn future generations to never forget the past when we start the next property bubble in 2050.
have your say