Cork City Council will invite proposals on the future use of a former bank building it acquired in the city centre almost two years ago.

As part of the exercise, the Lisney agency has been engaged to handle the marketing of the former Permanent TSB Bank on Lapp's Quay, which will be available at guide price of €950,000.

The council is launching a media campaign to invite expressions of interest to determine the most appropriate use for the building, which closed as a bank at the end of 2012.

It originally traded as Cork Savings Bank, opening for business in 1842 overlooking the river Lee and the City Hall.

The limestone block has a magnificent three-storey former banking hall along with offices and a large boardroom. It interlinks with a three-storey office building at 16 Parnell Place, providing a total floor area of 707sq m (7,610sq ft).

Margaret Kelleher of Lisney says there is a further opportunity to develop a two-storey extension to the rear of the building, which would improve its functionality without detracting from its protected fabric.

“Significant opportunity exists for an appropriate reimagining or reuse of the building in this high-profile central location in the heart of Cork city centre.”