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Thursday 18 September 2014

Beef baron Goodman to spend millions redeveloping bank HQ

Published 23/08/2014 | 02:30

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Bank of Ireland HQ, Baggot Street Lower, Dublin 2

Beef baron Larry Goodman is planning to spend millions of euro on the former Bank of Ireland HQ in Dublin, adding a nine-storey extension and refurbishing a number of other elements of the extensive site.

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Mr Goodman's Remley Developments has just asked Dublin City Council for permission to make the alterations to the landmark location on Baggot Street, which his family acquired at the end of 2012 for €43m.

Mr Goodman, who owns Anglo Beef Processors - the largest beef processor in Ireland and the UK, plans to lure a high-profile tenant to the former bank HQ.

But the campus, which includes three main office blocks, is a protected structure, meaning any plans for its redevelopment and refurbishment are carefully evaluated by the council.

The plans just submitted by Mr Goodman's company call for the removal of the existing penthouse and plant equipment in one of the buildings.

The company wants to add one one-bay nine-storey extension to that building - known simply as Building A - which will then include a new, extended penthouse as well as terraces.

Mr Goodman's firm has also asked for permission for a number of other modifications.

It wants to install a gymnasium near the ground/basement level, which will also include shower area and parking for 200 bicycles.

The plans have been developed by high-profile Dublin architectural firm Scott Tallon Walker. Donald Tallon originally designed the buildings, which were purpose-built for Bank of Ireland between 1968 and 1978.

The bank sold the premises in 2006 to a consortium fronted by one-time property tycoon Derek Quinlan.

The investors included former Anglo Irish Bank boss Sean FitzPatrick, Paddy Shovlin, Ronan O'Caoimh, the boss of medical device firm Trinity Biotech, and others.

That consortium had paid €212m for the property. Receivers took control of the premises at the start of 2012 on behalf of Bank of Scotland (Ireland), Danske Bank and Rabobank.

The banks were initially hoping that a large multinational might have bought it as its European HQ, before Mr Goodman stepped into the fray and emerged as the surprise buyer.

It added to a significant property portfolio already owned by the beef mogul.

The planning application to Dublin City Council from Remley Developments also calls for the installation of new public lighting and other minor modifications.

A previous planning application in 2008 by the then owners was rejected by Dublin City Council. Those plans, developed by architects HKR, sought an additional two storeys to two of the three buildings, as well as covering a large section of the courtyard with a glazed atrium.

The council said the plans would have a "significant undesirable impact" on the integrity of the campus.

Irish Independent

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