Sunday, 28 March 2010

Carroll's offices aimed at BoI staff approved

Liam Carroll's development vehicle Danninger, which is in receivership following a move by AIB, has been given the go-ahead for a huge office complex in Dublin's north docks which was originally targeted as a back office for Bank of Ireland. About 8,000 people would have been based in the building if a deal had been agreed.

The developer had tried to woo the bank to the north docks as part of his plan for a domestic financial services centre which would have involved new offices being developed for Anglo Irish Bank, AIB and Bank of Ireland. He spent €250m buying up land for the plan. In the end construction commenced only on the block earmarked for Anglo before the developer's empire collapsed.

The Anglo block is unfinished due to a planning dispute. It has been before An Bord Pleanála for 14 months and the board has yet to make a decision on its validity. If it rules against it, the building may be demolished.

Before development can take place on the site originally earmarked for BoI, a fee of €3.7m will have to be paid to Dublin City Council and another €770,000 will have to be paid towards the Metro North project.

The plan for three interconnected office blocks and a landscaped park was approved by the council subject to standard conditions.

Carroll's talks with AIB Capital Markets at the time involved a plan to raise the height of a building planned for the site to 110 metres, nearly twice the height of Liberty Hall.

Sunday Tribune

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