Business Irish

Monday 26 September 2016

Last piece of recovery jigsaw ... ghost of Anglo Irish Bank finally laid to rest

Published 27/12/2015 | 02:30

Builders begin to glaze sections of the new Bank of Ireland headquarters, formerly the proposed Anglo Irish headquarters on Dublin's Spencer Dock this week. Photo: Tony Gavin
Builders begin to glaze sections of the new Bank of Ireland headquarters, formerly the proposed Anglo Irish headquarters on Dublin's Spencer Dock this week. Photo: Tony Gavin
DEVELOPER: Liam Carroll began building Anglo’s new headquarters before the crash. Photo: Gerry Mooney

Since October 2008, the concrete skeleton of Anglo Irish Bank's proposed new headquarters in Dublin's docklands have served as a painful reminder of the Celtic Tiger's rise and fall. In the days leading up to the bailout and in the days that followed, it formed the backdrop for journalists from around the world as they reported on the unhappy end to Ireland's economic miracle.

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And so as we enter into 2016, the sight of the first windows being affixed to its walls should provide a welcome fillip for those who have yet to be convinced the country is on the road to recovery.

Thankfully, the long-awaited resumption of works on the building is down to the Central Bank's pressing need for new premises rather than the requirements of a financial institution which ended up costing the taxpayer billions.

A spokesman for the Central Bank told the Sunday Independent that the works programme at North Wall Quay should be completed by the fourth quarter of 2016, and that plans are currently being formulated for the relocation of the bank's staff from its current Dame Street headquarters.

"The intention is to commence occupation of our new premises in the docklands in the fourth quarter of 2016," the spokesman said.

Asked what plans there are for the bank's existing home, the spokesman added: "The Bank is currently developing proposals for the sale of our properties in the Dame Street area".

The installation of the first windows on the Central Bank's new HQ began in October. While the glass was manufactured in Leeds, it was cut, toughened and heated in Tipperary before being brought to Dublin where Architectural Aluminium assembled the panels which are now being put in place. While the Central Bank considered investing in its existing properties, the €7m acquisition of the Anglo Irish Bank building proved more cost-effective. The total cost of completing the building which had been under development by Liam Carroll prior to the crash is expected to €140m.

Sunday Independent

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