Hibernia and Hines both bid for Central Bank building

Hibernia REIT and Hines, the global real estate investment firm, have been shortlisted to buy the Central Bank building on Dublin's Dame Street.

Bids from the two companies are believed to have fallen short of the guide price of €65 million set by the Lisney agency for the Sam Stephenson-designed tower block and two interconnecting buildings.

The bank is also expecting to get in excess of €2 million for a period building at 9 College Green and €14 million for a substantially larger block at the corner of College Green and Anglesea Street.

The weaker-than-expected bidding on the tower block may well be due to the fact that it will require considerable refurbishment and also that it is not suitable for conversion into a hotel. The Central Bank is due to move most of its 1,400 staff to its new headquarters overlooking the Liffey, which was originally planned to accommodate Anglo Irish Bank.