€1m for O'Connell St landmark

National Irish Bank’s decision to close its retail operation will lead to the sale of not only its highly distinctive branch on College Green but also its impressive building at 66 O’Connell Street, Dublin 1.

The four-storey over basement building near the GPO was designed by Scottish architect David Bryce and completed in 1863.

The pediment is supported by six fluted Corinthian columns and has a carving of The Ten Virgins by Sir John Steell.

The building was converted for bank use in the 1950s. It has 641sq m (6,900sq ft) including 192sq m (2,066sq ft) in the ground floor banking hall.

There are two single storey extensions to the rear where there is a small yard accessed from Parnell Place.

Stephen McCarthy of Savills is quoting €1 million for the building, one of 16 branches in Dublin and provinces to be sold in the coming weeks.

A marketing campaign will also be launched to find replacement tenants for nine leased buildings, mainly in provincial towns.

Earlier this year, Savills off-loaded a range of bank branches, mainly in rural towns.

McCarthy said that most of the purchases were made by investors and owner-occupiers who were only too happy to avail of the exceptional value on offer with the possibility of capital appreciation over the next few years.

Also going for sale are branches at Main St, Malahide (€600,000); Walkinstown (€370,000); Main St, Finglas (€250,000); Rose Inn St, Kilkenny (€620,000); Ballinamore, Leitrim (€140,000); Monaghan (€320,000); Mullingar (€415,000); Carrick-on-Shannon, Co Leitrim (€240,000); The Bull Ring, Wexford (€430,000); Drumshanbo, Leitrim (€140,000); Bailieborough, Co Cavan (€140,000); Letterkenny (€240,000); Earl St, Dundalk (€800,000); Stephen St, Sligo (€400,000).

NIB is also hoping to assign leases of buildings at Baggot St, Howth Rd and Blanchardstown in Dublin as well as Ballincollig and Mallin in Cork, Navan, Cavan, Drogheda and Sligo.