The shortage of freehold and leasehold premises will be eased somewhat in the coming months as banks and building societies close down a range of branch offices nationwide. The EBS was one of the first off the blocks with the sale of its leasehold interest in an 800 sq ft premises on Grafton Street in Dublin. A premium of over £500,000 is believed to have been paid by the Carl Scarpa shoe group.
The Irish Permanent is also to close its large branch office at the junction of Grafton Street and Suffolk Street but as it is to retain ownership of the building, it has yet to decide what alternative use to make of it. It is also closing a branch office at 60 St Stephen's Green which it will retain as part of its HQ. Eight other branches, which are either leased or owned by the bank, are to be offered for sale in the autumn. These are located at Ballsbridge, Ranelagh, Thomas Street, Prussia Street, Liffey Street and Terenure.
ACC is to seek buyers immediately for six leasehold premises in the Dublin area. Most of them are expected to make key money of over £100,000 when they are sold by Eoin Feeney of Palmer McCormack. One of the largest, with a floor area of 1,800 sq ft, is at the Omni Park Shopping Centre and is rented at £73,000 per annum. A 1,600 sq ft branch at Blanchardstown town centre is rented at £60,000; another premises of 1,100 sq ft in Westmoreland Street is rented at £37,000 per annum.
