‘Strong interest’ from firms to lease space at old Limerick bank branch

THERE’S been “strong interest” in leasing office space in a landmark former Bank of Ireland building in Limerick city centre.

Gordon Kearney of Rooney Auctioneers which is marketing the premises says management at two companies are looking to take over the entire space, while bosses of three firms are interested in leasing part of it.

“We’ve enough there to let either in its entirety or floor-by-floor,” the auctioneer told Business Leader this week. “It'll be a great headquarters for a company.”

Rooney Auctioneers describe the premises as “an excellent opportunity to lease a landmark high-profile building in the centre of the central business district of Limerick”.

Earlier this year, developer Joseph Layden, of Layden Property Holdings, secured planning permission from council to transform the former bank into a shop, new apartments, plus a gym and cafe.

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Under the plans, the existing, three-storey bank building will be retained with a seven-storey block. As part of the development, 24 new apartments are planned, with three earmarked for the existing historic bank building.

While only office space is being sought to lease at the moment, Mr Kearney says the apartments will likely go ahead when the market conditions in the building trade improve. To this end, they are offering a short-term lease to any tenant. “Ideally, we’d like a three-to-four year term which will allow the owners to get their ducks in a row to do the apartments,” he explained,

“These apartments will fill and will be sold. It's just the building costs are prohibitive at the moment and a bit of normality needs to creep back in.”

Bank of Ireland used the premises at 94 O’Connell Street up to 2010 when it concentrated its operations into its anchor branch at number 125 on Limerick’s main thoroughfare.