TRINITY College has emerged as the new owner of a prominent off ice building at 1 College Green, Dublin 2, after buying it prior to auction for slightly over £3 million.

A spokesman for the college said it planned to use the building for academic and research purposes. Because of the open plan layout, some of the floors would be suitable for small group teaching.

The seven-storey over basement building is currently occupied by Riada stockbrokers which are shortly moving to the International Financial Services Centre. The block has 13,176 square feet of space and was modernised by New Ireland in 1990. There is a board room suite at penthouse level.

Last year, TCD bought two adjoining Georgian buildings a few doors away at Foster Place which were previously occupied by a firm of solicitors. The college paid in excess of £500,000 for the two houses.

Ganly Walters acted for the college and Lisney handled the sale.