THE CENTRAL BANK has completed the sale of its iconic Dublin city centre building to a group of international real estate investors.
The bank this morning confirmed that the sale price was “in the region of €67 million”.
The sale had been in the pipeline for some time given the bank’s pending move to its new Dublin Docklands location on the site of the previously unfinished Anglo Irish Bank HQ.
The bank will maintain a presence on its current Dame Street premises, which were built in 1978, until the end of March.
The buildings included in the deal, covering the Central Bank headquarters and several nearby properties including buildings on College Green, have been acquired by a partnership between Hines Ireland, the local arm of international real estate firm Hines, and Hong Kong-based property investors Peterson Group.
“We are delighted to be partnering with Peterson Group on their first dealings in the Irish market,” said Hines Ireland managing director Brian Moran.
The group also snapped up offices at 2 Grand Parade in south Dublin, formerly occupied by Irish Nationwide Building Society. The building is now fully leased to Seattle e-commerce giant Amazon.
Moran said that both purchases “represent excellent investments” due to their “enviable locations and potential”.
It is the first such foray in the market by the partnership, although Hines Ireland has previously been active in Ireland, snapping up high-profile properties such as the Liffey Valley Shopping Centre – which was sold on to a German pension fund in December.
The sale price for the Grand Parade premises is unknown, although the combined price of the two properties is understood to be in excess of €100 million.
Reporting by Cianan Brennan and Peter Bodkin