Council to buy former TSB bank building

Cork City Council is set to buy a former bank building today — for a bargain. City officials have made an offer on the landmark former Cork Savings Bank building on Lapps Quay which served as a Permanent TSB branch until its closure in 2012.

City manager Tim Lucey declined to disclose the amount the council has offered for the premises. But he said it “represents excellent value for money”.

He also confirmed the purchase, and the cost of upgrading the public realm nearby over the next two years, will cost up to €1.9m.

It is hoped to create a small urban park on the river side of Lapps Quay, opposite the bank, and upgrade the triangular park across the road, at the end of the South Mall.

Mr Lucey said he expects the offer, once re-confirmed today, to be presented to the board of Permanent TSB for approval. Councillors welcomed the move last night and urged officials to consider developing the property as a Mansion House-style property, or converting it for use as a maritime or sporting museum.

Officials will now begin work drafting plans to return it to civic use, which may include a public call for partners to operate the building. Mr Lucey said design work on improving the public realm is already under way. “The City Architect’s Department has already engaged with neighbouring trade in the area and has reached broad agreement on the scheme.