Bank of Ireland to sell landmark building

BANK of Ireland is to sell the modern offices of the Irish Civil Service Building Society which front on to O'Connell Bridge in Dublin. The 25,000-square-foot block opens on to both Westmoreland Street and D'Olier Street and though there is no car-parking, it is likely to make in excess of £3 million when it is auctioned by Gunne next month. The sale marks a further stage in a major rationalisation programme by the bank. Its Lifetime Assurance Company is to vacate 55,000 square feet of office space in the Earlsfort Centre, which is rented at £800,000 per annum. The bank has also sold a 23,000-square-foot office block on Burlington Road, Ballsbridge, Dublin 4, which is to be vacated next October by Bank of Ireland Finance. A Dublin property investor has paid in excess of £4 million for the block, which is in need of considerable refurbishment.