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Third time lucky for Central Bank

Why is that we can't help feeling nervous about yesterday's confirmation that the Central Bank has bought the partially-completed Anglo headquarters from NAMA for €7m? The Central Bank intends to complete the structure, which is located on Dublin's North Wall Quay, as its own headquarters.





The building, which has 20,000 square metres (over 200,000 square feet) of space is large enough to house all of the Central Bank's 1,400 staff who are currently scattered across three locations in Dublin city centre.

However, we can't help feeling apprehensive. Not alone will the Central Bank be abandoning its existing iconic Sam Stephenson-designed headquarters on Dame Street, it will be moving into a building that many would suspect was jinxed.

Liam Carroll, the developer who partially completed the North Wall Quay building, saw his business empire collapse with debts of more than €1bn. Then the intended occupant Anglo collapsed spectacularly. The bank once reckoned to be the best in the world wrote off more than half of its €70bn loan book and had to be rescued by the taxpayer at a cost of almost €30bn.

So will it be third time lucky for the Central Bank on North Wall Quay? Let us all hope that it is.