Dublin city has an impressive legacy of bank buildings, many with spectacular facades designed to impress and encourage the public to invest their savings with absolute confidence. With branch banking in decline, three more landmark premises are going for sale and a number of others are due to come on the market in coming weeks.
The sell-off reflects the changes taking place in the business as on-line banking takes over from the traditional banking halls with their double height ceilings, ornate fittings and ranks of employees.
The issue now is who will buy these extravagant edifices and what use will they be put to?
While the four bank buildings for sale are all in key positions, he high cost of adapting and maintaining them will be a factor in their sale.
Some will inevitably be considered for bars now that pub licences can be moved more freely from one part of the country to another.
National Irish Bank is selling its city centre branches at 27 College Green and 66 Upper O'Connell Street while Bank of Ireland is to begin marketing its Victorian building at Baggot Street Bridge.
Last week, AIB announced its intention to sell its high profile premises at the junction of Lower O'Connell Street and Lower Abbey Street.
Duncan Lyster, of Hamilton Osborne King, will handle the sale of NIB's College Green premises which has a handsome banking hall noted for its spaciousness. Its magnificent ceiling is arched and grained with deep panels arranged in geometric patterns.
The equally impressive facade, completed in the Italian Gothic style in 1867, features limestone from the Sheephouse Quarries near Drogheda, dressings in Portland stone and ornaments in Caen stone.
After taking over the building in 1982, National Irish increased the floor space from 25,000 to 34,500 sq ft. The building, which is likely to make over £9 million, could well be converted into a boutique hotel. It might also be acquired by TCD because of its proximity to the college.
The O'Connell Street branch of National Irish is expected to make in the region of £2 million when it is sold by HOK. The 6,150 sq ft building has been used as a bank since 1888.
Karl Stewart of Lambert Smith Hampton is quoting a guide price of £2.75 million for the Bank of Ireland on Baggot Street Bridge which has over 5,400 sq ft on three levels. A yard of over 2,000 sq ft on the Haddington Street side of the building is used for nine car-parking spaces but has obvious development potential.
