Business Irish

Thursday 22 June 2017

Nationwide still retains network of 49 branches

The Irish Nationwide Building Society has not yet decided whether or when to sell its network of 49 branches around the country. Following last week's sale of the society's deposit book to the Permanent TSB Bank, the branches will continue in the society's ownership.

During the current transitional phase , the branches will continue to service depositors and other customers, such as mortgage holders, whose mortgages have been retained by the society.

Many of the branches are freehold properties. Those located on high streets, such as Grafton St and O'Connell St in Dublin, are in prime retail locations. All the freehold and leasehold premises from which the society operates were valued in December 2009 at €45.7 m.

Other prime Irish Nationwide locations include Patrick St, Cork; Eyre Square, Galway; Cruises St, Limerick and High St, Waterford. It has 16 branches in Dublin as well as at its Grand Parade HQ.

Irish Independent

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