Wheel turns full circle with Goodman purchase of old Bank of Ireland HQ

LARRY Goodman’s purchase of the old Bank of Ireland headquarters on Baggot St in Dublin — announced last weekend — is a remarkable story.

Here is an Irishman who has about €43m available to buy a landmark office complex and who may have to pay nearly as much again to refurbish the three building 220,000sq ft building complex, which needs reglazing, the removal of absestos, and a new air conditioning system.

So at least it proves there remains at least some substantial personal wealth in Ireland, that all our elite has not gone bust or cannot borrow to buy things. Goodman had to have access to substantial funds because he beat off 12 other bidders, almost all international investors, to buy the buildings. A previous effort to extend them in 2008 was rejected by the planning authorities. He has to work with what he has.