Bank of Ireland is to sell three office buildings adjoining its main branch on College Green, Dublin 2. The buildings at 1, 2 and 3 Westmoreland Street, are partially occupied by the bank and are expected to make in excess of £2.75 million when they go to tender on July 21st.

The decision to dispose of the five-storey over basement buildings will come as a surprise but according to Hugh Markey of Lisney, the bank "constantly keeps its assets under review".

The bank currently operates a bureau de change on the ground and basement of Number 1 and though it is included in the sale, the bank will be paying only a peppercorn rent in future. This building was the subject of a lengthy dispute between the bank and previous owners, Rowan Seeds.

Under the terms of the sale, the bank will continue to occupy 6,300 sq ft of office space on the four upper floors of all three buildings at a rent of £160,000 per annum.

However, it will have an option to break the lease between the second and fifth years. A 700 sq ft former insurance office and a basement at number 2 are currently vacant.