Central Bank spends €300k on security at former Anglo site

The Central Bank has paid a security firm almost €300,000, to date, to secure the site of the ill-fated former Anglo Irish Bank building on Dublin’s North Wall Quay.

The Central Bank purchased the half-completed building, which was due to become Anglo’s next headquarters, but instead became an international symbol for Ireland’s economic collapse, for €8m in November 2012.

Last month, the Central Bank confirmed Walls Construction had secured the €68.7m contract as the main contractor, beating off competition from five other firms, and work has commenced on the scheme.

The overall cost of the project is estimated at around €140m.

Now, the Central Bank has confirmed that it has spent €16.2m on the project to date; including the €8m purchase price. The bank anticipates that its 1,400 staff will move into the building in late 2016.

Security firm, Netwatch, has been paid €289,892 for ‘site security services’ with architectural firm, Henry J Lyons receiving €2m for architect and construction advisory fees.

In addition, Lisney has received €153,750 for ‘estate agent services’, with McCann Fitzgerald receiving €678,993 on legal services around the project.

Dublin City Council has received almost €1.75m from the project while JB Barry & Partners has received €111,462 for due diligence on the purchase of the site.

Gardiner and Theobald has received €689,763 for project management services.

Last year, Dublin City Council approved the plan that involves covering the skeleton of the building with a fine mesh facade made of bronze-coloured anodised metal to create an eight storey office block.

The site was originally owned by developer Liam Carroll, who had planned to build a new financial services hub anchored by Anglo. Work stopped on the Anglo building in 2008.

Nama later sold the building to the Central Bank and prior to the sale, Nama chief executive, Brendan McDonagh said that the skeleton office block had become “a landscape eyesore and needs to be dealt with”.