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Thursday 28 August 2014

Anglo Irish HQ architects Traynor O'Toole to wind up Dublin business

Laura Noonan

Published 29/01/2010 | 05:00

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THE architecture practice that designed Anglo Irish Bank's elaborate new headquarters on Dublin's North Wall Quay is to be wound up.

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A legal notice published this week shows Traynor O'Toole Architects Ltd will appoint a liquidator at a creditors' meeting on February 10.

The notice refers only to Traynor O'Toole's Dublin business, which trades out of Sandyford and Dundrum, and not Traynor O'Toole Cork, which trades through a separate company.

Repeated efforts to reach the directors of the affected Traynor O'Toole company yesterday were unsuccessful and sources said they did not want to discuss the wind-up with media at this point.

Founded in 1982, Traynor O'Toole has been behind some of the most iconic projects of the Celtic Tiger years, including much of the Beacon complex in Sandyford.

More recently, the architects' practice is understood to have carried out a significant amount of work for embattled developer Liam Carroll, whose companies are behind the development of the Anglo site.

The most recent accounts filed by Traynor O'Toole show losses of more than €1.4m for the 14 months ended December 2008, against profits of more than €600,000 in the year to October 2007.

Owed

The firm closed its 2008 period with almost €2.5m owed to it in "prepayments and accrued income", a significant increase on the €91,000 it was owed in October 2007.

On the creditor side, Traynor O'Toole was carrying short-terms debts of more than €3.8m, including a €914,000 bank overdraft and €670,000 owed to trade creditors, and longer term debt of about €670,000.

Traynor O'Toole's website also lists a number of projects that are still in planning including the 293,000 sq ft hotel for Dublin Airport City, the 300,000 sq ft redevelopment of Dublin city's Dominick Street and the 1.2 million sq ft Athlete's Village in New Delhi to be used for the Commonwealth Games.

The status of the 260,000 sq ft Anglo Irish Bank project, effectively a concrete shell destined for NAMA, is described as "on site".

Irish Independent

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