The Central Bank has formally signed a deal to buy the half-completed Anglo Irish Bank office block at North Wall Quay from the National Asset Management Agency for €7 million.

Anglo had planned to use the tower as its headquarters before its collapse.

The Central Bank intends to complete the construction of the existing building on the site, with modifications, and to relocate to it as its headquarters, the bank said in a statement.

The Central Bank's staff are currently based in three main locations in or near the city centre.

The confirmation of the purchase was welcomed by the National Asset Management Agency.

Nama wanted to dispose of the site as part of its resolution of the debts of Liam Carroll's Zoe Developments group.