Business Irish

Friday 29 August 2014

Central Bank buys Anglo HQ

Charlie Weston

Published 15/11/2012 | 05:00

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THE Central Bank has formally signed a deal to buy the barely-built Anglo Irish Bank headquarters on the Dublin quays for €7m from the National Asset Management Agency (NAMA).

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The Central Bank plans to complete construction of the site – which is just a shell of a building – before moving its headquartes there.

In a statement yesterday, the Central Bank said it intended to complete the construction of the existing building on the site at North Wall Quay.

It made no reference to Anglo Irish Bank in its statement.

The building will become the headquarters of the Central Bank, in place of its current offices on Dublin's Dame Street.

Anglo had planned to use the tower as its headquarters before the company's collapse helped push Ireland towards the international bailout in 2010. It had once been valued at €250m.

The building was constructed by Liam Carroll, one of the country's biggest developers. He has seen many of his assets seized by banks.

Central Bank Governor Patrick Honohan had said in February that, after 33 years in the Dame Street headquarters, a new home was being sought. The bank's staff are currently operating out of three units in the city. The confirmation of the purchase by the Central Bank was welcomed by NAMA.

"The planned development of North Wall Quay is an important signal of improving sentiment and activity in the office market," NAMA said in a statement.

"The development of the North Wall Quay site is also important for the future development of adjoining lands within this key strategic location."

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