AIB Branches up for sale

AIB is to sell three Dublin bank branches, one of them a landmark period building at Arran Quay/Smithfield, Dublin 7, reports the Irish Times.

Agent DTZ Sherry FitzGerald is guiding €500,000 for the distinctive building along the city quays which has an overall floor area of 318sq m (3,423sq ft) including a single storey banking hall at the front extending to 175sq m (1,877sq ft).

The ornate ceiling and plasterwork includes an overhead oculus which keeps the hall bright during daylight.

The rear of the building is set out over three floors and has been used as offices and storage.

A car park at the rear can accommodate 10 cars. The site also includes a former bank manager’s residence. Rates on the property last year amounted to €23,308.

The bank branch was acquired in 1919 by the Royal Bank of Ireland and was the scene of the shooting dead of Garda Dick Fallon in 1970 when he confronted four masked and armed robbers. The Royal Bank was subsequently involved in the merger which led to the founding of AIB.

Johnny O’Connor of DTZ is also handling the sale of former bank branches at Annesley Bridge in Dublin 3, and Temple ogue in Dublin 6W. The guide price in both cases is €280,000.

The mainly one-storey building at Annesley Bridge has a total floor area of 274sq m (2,953sq ft).

It is close to the Dublin Port Tunnel and Connolly station and was acquired by the Royal Bank of Ireland in 1925.

The Templeogue semi-detached building has a ground floor retail area of 168sq m (1,808sq ft) and a further 29sq m (312sq ft) overhead. The building is likely to appeal to an investor or retailer.

The three bank branches closed down in November and December last as part of a more extensive closure of 67 branches by the State-controlled bank in an attempt to return to profitability in 2014. Source:  the Irish Times