Business Irish

Sunday 23 October 2016

Anglo's still costing money as Central Bank forks out almost €300,000 to safeguard old building

Gordon Deegan

Published 07/05/2015 | 02:30

Former Anglo-Irish Bank building on Dublin's North Wall Quay.
Former Anglo-Irish Bank building on Dublin's North Wall Quay.

The Central Bank has paid a security firm almost €300,000 to secure the site of the ill-fated former Anglo-Irish Bank building on Dublin's North Wall Quay.

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The Central Bank purchased the half-completed building, which became an international symbol for Ireland's economic collapse, for €8m in November 2012.

Last month, the Central Bank confirmed that Walls Construction had secured the €68.7m contract as the main contractor and work has commenced on the scheme.

Walls Construction beat off competition from five other companies bidding for the work at the prime docklands site.

Now, the Central Bank has confirmed that it has spent €16.2m on the project to date including the €8m purchase price. Figures released show that security firm Netwatch has been paid €289,892 for 'site security services' with architectural firm Henry J Lyons receiving €2m for architect and construction advisory fees.

The bank anticipates that its 1,400 staff will move into the building in late 2016.

Dublin City Council has also benefited from the Central Bank purchasing the building with the records showing that it received €1.748m from the bank.

The figures also show that Lisney has received €153,750 in fees with legal firm, McCann Fitzgerald receiving €678,993.

The new building will accommodate the bank's staff - currently working in four locations - at the one location.

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