BOS steps up Irish link with €80m HQ

BANK of Scotland are putting down expensive roots in Ireland.

The company, which shook up the mortgage market on its arrival here in the late 1990s with its telephone-based mortgage service, has an aggressive new, on-the-ground drive at the Irish commercial banking sector. It has committed to a new c. 80 million, seven storey, 110,000 sq ft building in the heart of Dublin - St Stephen’s Green. The landmark building, to be known as Bank of Scotland House, and now going on site, will accommodate between 600 and 700 bank employees, making it one of the biggest office deals in the country outside the IFSC (La Touche, headed up by Bof I, in the IFSC sold last year for 82 million.)

The 110,000 sq ft property is at 124-127 St. Stephen’s Green, and is being developed with Green West Property Development.

This landmark bank scheme will see the last remaining vacant landmark site disappear on St. Stephen’s Green.

Completion of the 80 million plus building is expected for late 2004. Currently, the Bank of Scotland (Ireland’s 600 Irish staff are housed in three different locations, in St. Stephen’s Green, in Harcourt Street and in Clonskeagh.

The bank’s chief executive Mark Duffy said the development “should cater for the continued growth of the bank for many years and its superb location should make a powerful statement to our customers and competitors. “With many companies moving to the outskirts of Dublin, our decision to locate all our operations in the heart of Dublin, indicates our confidence in the future of our capital city,” he said