Savills has brought the former National Irish Bank (NIB) building, on Dublin’s College Green to the market at a guide price of €4 million on behalf of Danske Bank Group.  The sale is part of the second phase of NIB branch disposals by Denmark’s biggest bank.

The landmark, listed property was built in 1867 when it opened as a Union Bank.  It comprises 2,850 sq m of office space, which includes the original banking hall with a vaulted ceiling. It has an extensive frontage onto College Green with loading access to the rear from Andrew Street offering potential for a range of uses subject to planning permission.

Danske Bank Group purchased Northern Bank and NIB in March 2005 and Savills was appointed to advise on the disposal of a portfolio of former bank branches, comprising a mixture of freehold and leasehold properties. The first tranche of properties came to the market at the end of 2010 and comprised 25 assets across Ireland.  The second phase, which has just been launched, includes 18 properties throughout the country including the College Green building as well as former bank branches in O’Connell Street, Dublin 1, guiding at €1m, in Dundalk at €800,000 and in St Kilkenny with a guide price of €620,000.

Stephen McCarthy, associate at Savills Ireland, says: “The former National Irish Bank is a unique and attractive landmark property located in central Dublin making it a great acquisition for a domestic or international investor.

“Given the quality of locations in this second tranche of assets we anticipate strong retailer interest in particular for these properties. Our client will also consider leasing rather than selling their buildings on a case by case basis as part of their overall disposal strategy.”