Former Central Bank HQ’s new owners target tenants for redevelopment

The new owners of the former Central Bank buildings on Dame Street in Dublin have begun a marketing a campaign to secure new tenants for the redevelopment they are working on.

US property groups Hines and Hong Kong-based real-estate investment firm Peterson Group acquired the iconic 1970's Central Bank building and adjoining properties earlier this year for €67 million and subsequently secured a €100 million loan redevelopment loan.

The planned so-called Central Plaza will see the creation of a mixed-use development, including office space for up to 1,000 people, as well as retail, restaurant and cafe outlets at street and basement level and a two-storey rooftop “hospitality and viewing area”, according to the companies. The 71,101 sq ft office component is expected to be completed by the end of next year.

The developers have engaged Knight Frank as letting agents for the office accommodation and BNP for the retail and hospitality offering.

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"Hines and Peterson are proud of the tremendous work that is going on restoring and reimagining the iconic city centre building," said Brian Moran, senior managing director of Hines Ireland. "We expect significant interest in the development from companies, retailers and hospitality providers who want to be part of this renaissance in the heart of Dublin."

The Central Bank moved its headquarters to the International Financial Services Centre (IFSC) to a building that was previously earmarked to house the now-defunct Anglo Irish Bank.