Wednesday 21 March 2018

Ronan lines up €50m deal for AIB headquarters

Johnny Ronan
Johnny Ronan
Peter Flanagan

Peter Flanagan

Developer Johnny Ronan is on the verge of buying part of AIB's headquarters in Dublin in a deal worth more than €50m.

Mr Ronan is understood to have agreed terms to buy the site, which includes four vacant office blocks at AIB's Bankcentre.

The site was purchased by the now bust developer Seán Dunne for some €200m in 2006. It is being sold on the instructions of a receiver appointed by Ulster Bank and Nama.

The deal will set the scene for a huge redevelopment of the site and will also bring back memories of the 'Battle for Ballsbridge' during the Celtic Tiger era, when developers forked out hundreds of millions of euro for properties in the area.

Irish Independent

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