UCC offers €1.42m for former TSB building on Lapps Quay

UCC is in line to pay Cork City Council more than €1.4m for a former Permanent TSB branch, subject to approval by councillors next week.

The Lapps Quay building was acquired by the council from Permanent TSB for around €750,000 in 2013. It was decided earlier this year to place it on the market.

The proposed €1.425m sale price is one-and-a-half times the guide price placed on it in April. A decision to proceed with the transaction will rest with council members, when the matter arises at their meeting next Monday.