Ulster Bank’s landmark College Green branch building guiding at €13.5m

33 College Green has potential for development of 147-bedroom hotel, according to feasibility study

With 34 properties from its former branch network now on the market, Ulster Bank has instructed agent Cushman & Wakefield to find a buyer for its landmark premises at number 33 College Green in Dublin city centre. The property, which occupies a prominent position across the street from both Trinity College Dublin and Bank of Ireland’s high-profile branch within the former Irish Houses of Parliament, is being offered for sale at a guide price of €13.5 million.

The property comprises a six-storey over-basement office building, the majority of which was built in 1975. A part of the property’s facade fronting on to College Green is listed under Dublin City Council’s Record of Protected Structures and is described as “The Ulster Bank facade, including front-domed roof and flanking chimneys”. Internally, 33 College Green comprises typical 1970s office features throughout and includes a glazed atrium within the core of the building. The building occupies a site of about 0.12 hectares (0.30 acres) and slopes slightly downwards from Suffolk Street to College Green. The entire building has a gross floor area of 5,840sq m (62,861sq ft).

Number 33 College Green is zoned Z5: City Centre under the terms of the Dublin City Development Plan 2022-2028. The objective of this zoning is “to consolidate and facilitate the development of the central area, and to identify, reinforce, strengthen and protect its civic design character and dignity”. There are a number of uses permitted in principle under this zoning, and these include the development of offices, hotels, residential and retail. Reddy Architecture + Urbanism have prepared a feasibility study identifying the property’s potential in this regard. The report suggests there is scope for the delivery either a 147-bedroom hotel or a 141-bedroom hotel with meeting rooms. While retail and office use have also been considered as potential options for the building, number 33′s suitability as a hotel is further enhanced by its location within a short walk of Grafton Street, Temple Bar, Trinity College and St Stephen’s Green, and by its proximity to key public transport links including the Luas green line, the Dart at Pearse Street station and numerous Dublin Bus routes.

Commenting on the sale, Karl Stewart of Cushman & Wakefield says: “This is a rare opportunity to acquire a substantial landmark building in the heart of Dublin city centre with huge future potential. We expect this property to attract interest from a wide cross section of purchasers.”

Ronald Quinlan

Ronald Quinlan

Ronald Quinlan is Property Editor of The Irish Times