Wednesday 20 November 2019

ACC to sell off 19 more branches

ACC branch Market Street, Navan
ACC branch Market Street, Navan

ACC Bank plans to sell off its interest in 19 more branches around the country, 10 of which are free hold.

Its agents HWBC estimate that the bank could generate about €7m from the disposals. The freehold properties are: 3 Denny Street, Tralee; 45 Main Street, Wexford; Shop Street, Tuam; 15 Market Street, Navan; Mill Street, Monaghan; William Street, Tullamore; Main Street, Roscommon; 16/17 Pearse Street, Nenagh; Mary Street, Dungarvan; Pearse Street, Ballina.

Sharon Walsh of HWBC says the buildings occupy prime locations and have the added advantage of Class 2 Retail planning permission which allows their uses by financial institutions and bookmakers.

This is particularly beneficial as local authorities are increasingly banning these uses in many high streets.

HWBC already sold five ACC properties in Cork City, Bandon, Carlow, Dundalk and Mallow. It also hopes to conclude deals on four others in the near future: Main Street, Naas; Dublin Street, Longford; South Main Street, Bandon and Parliament Street, Kilkenny.

The Naas branch has just come back on the market after a proposed sale fell through with a reduced price of €625,000 down from the original guide of €900,000.

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