Although Bank of New York Mellon and a company formed by former Liam Carroll employees called “Property Asset Management Enhancement Services” were reported to be in the running to buy it, it is the Central Bank of Ireland which is now understood to have purchased the former Anglo HQ shell on Dublin’s North Wall Quay. The price being paid by the Bank is not available but industry sources say that NAMA had been offered €10m last summer for the building by a party whose name was not publicly linked with the site, in a deal which would have required staple financing but which would have seen both the existing Anglo shell completed AND the completion of an adjacent building which has yet to be started. It is understood the Central Bank will now develop the shell on the existing site which will eventually bring together and house the mushrooming 1,500-strong workforce, presently sited across three main locations -its iconic HQ on Dame Street from where the Occupy protesters were removed last last month, Iveagh Court on Harcourt Street and an office building (pictured) in Spencer Dock.
Sources say that the Central Bank had been looking at other potential sites in central Dublinand the IFSC, in particular the Treasury Holdings Spencer Dock complex, but it is said that both the Department of Finance and NAMA arm-twisted the Bank into taking the Anglo HQ shell.
Neither the Central Bank or NAMA has commented on the sale, though the sale is expected to be confirmed by NAMA before Easter.
UPDATE: 26th March 2012. The Irish Independent reports today that NAMA has not “yet” “sealed” a deal with the Central Bank and the Central Bank says that no plans had been “formalised” for the Bank’s long-term accommodation plans. A spokesman for NAMA who on Friday told this blog that the Agency had no comment on the report, seemingly told the Independent “an online report yesterday that indicated agreement had been reached was incorrect”
UPDATE: 16th April, 2012. Bloomberg now reports that the CBI has agreed to buy the shell for €8m (USD 10m), though neither the CBI nor NAMA is commenting.
UPDATE: 31st May, 2012. NAMA has issued a statement to confirm that it has sold the Anglo HQ shell. NAMA says ” NAMA working with the Receivers had prioritised the sale of this asset for the past 18 months and had engaged with a number of interested parties. We are very happy now to have concluded the process and look forward to the Central Bank completing the building which will greatly enhance the whole landscape of the Dublin Docklands” . RTE reports that the purchase price was €7m.
UPDATE: 14th November, 2012. NAMA has today issued a statement confirming the contract for sale has at laaaast been signed. The statement says “The National Asset Management Agency welcomes the signing of contracts relating to the Central Bank of Ireland’s purchase of North Wall Quay, Dublin 1. The purchase and planned development of North Wall Quay, Dublin 1 is an important signal of improving sentiment and activity in the office market. The development of the North Wall Quay site is also important for the future development of adjoining lands within this key strategic location. “