10 provincial AIB branches for sale

The AIB branch at William Street in Limerick will be among the first tranche of former bank buildings to be offered for sale shortly through Dublin commercial agent Bannon.

The agency is assembling information on 10 branches in Limerick, Clare, Tipperary, Waterford and Wexford which were shut last October along with 31 other branches across the country. A further three leasehold properties are also to be sold.

The decision by the State-controlled bank to close one in four of its branches is designed to help return the bank to profitability by 2014. The branches closed typically carried out about 20 per cent of the volume of transactions at other branches.

James Quinlan of Bannon said that judging from the number of enquiries already received he expected strong interest in most of the branches. The majority of the buildings included residential accommodation which would obviously appeal to owner-occupiers.

Although guide prices are likely to be between €70,000 and €200,000 for many of the branches, the building in Limerick with a ground floor over basement is expected to fetch in excess of €400,000.

The other branches to be sold are: Baltinglass, Co Wicklow; Kilkee and Kildysart, Co Clare; Borrisokane, Clogheen and Killenaule, Co Tipperary; Doon, Co Limerick; Kilmacthomas and Tallow, Co Waterford.