Goodman family acquires landmark former Bank of Ireland headquarters
The family of Larry Goodman has acquired the former Bank of Ireland headquarters building in Dublin’s Baggot Street.
Jones Lang LaSalle had been seeking in the region of €30 to €35 million for the well-known building, which was in the hands of receiver Kieran Wallace from KPMG and went on the market in October.
No value was put on the deal, which was completed yesterday.
It was sold previously in 2006 for €212 million to a consortium led by Derek Quinlan of Quinlan Private, developer Paddy Shovlin and hotelier brothers Anthony and Patrick Fitzpatrick.
Others involved in the Quinlan deal were former Anglo Irish bank chairman Seán Fitzpatrick and Trinity Biotech chief executive Ronan O’Caoimh.
In a statement last night, a spokesman for the Goodman family said: “The property division of Parma Group through its wholly-owned subsidiary Ramly Ltd has purchased the former Bank of Ireland headquarters building in Baggot Street.”
The Parma Group is the holding company for the non-agri businesses of the Goodman family, the spokesman said.
The Goodman family has an extensive portfolio of property interests.
Commercial property sources had suggested ahead of the sale that the purchaser would need to invest an additional €30-€40 million in refurbishing the building, which extends to 20,493sq m (220,599sq ft), was designed by Scott Tallon Walker and built between 1968 and 1978.
The complex comprises three separate elements, set around a central plaza, with 220 dedicated parking spaces
It was made a protected structure in 2006 and plans to extend it were rejected in 2008.
The building was put into the hands of receiver KPMG at the start of this year by Bank of Scotland (Ireland), ACCBank and Danske Bank, which funded the 2006 deal.
The last Bank of Ireland staff relocated to the bank’s new headquarters in Mespil Road in August.