AIB to sell three bank branches in Cork city

AIB selling trio of Cork branches, in Ballintemple/Blackrock, (attention Reggie?),  on the College Road (attention UCC and medics) and Turner's Cross, (attention everyone else) 

Just gone for sale with agents Lisney, the former branches are on the doorstep of UCC and the Bon Secours hospital on College Road, Musgrave Park in Ballyphehane/Turner’s Cross, and on the main Blackrock Road, in Ballintemple

THREE AIB bank branches in Cork city have come to the open market, in strong suburban locations including Blackrock Road and  College Road, likely to make around €2m for the trio.

Just gone for sale with agents Lisney, the former branches are on the doorstep of UCC and the Bon Secours hospital on College Road, Musgrave Park in Ballyphehane/Turner’s Cross, and on the main Blackrock Road, in Ballintemple - where some private homes are worth the value of this trio of branches combined: up to €5.2m, if well-spoken millionaire Reggie is to be believed.

All are offered with vacant possession, and formed part of a tranche of 15 AIB branches in Dublin and Cork whose closures were announced in summer of 2021.

AIB bank branch 64-65 College Road

Most valuable is the purpose-built 340 sq m/3,650 sq ft building at 64-65 College Road, with high-quality finishes, and vitally, 12 car parking spaces to the rear, on a 0.2 acre site.

Agents Amanda Isherwood and Margaret Kelleher of Lisney’s Cork guide this offer at €1.1m and say they “expect that the property will appeal to purchasers from the medical, education and professional services sectors.”

They might not have to look too far for a suitable end user.

Ever-expanding UCC can be expected to be to the fore, while it may also suit consultants or other specialist medical services next to the Bon Secours, which recently underwent a €70m expansion of service, and added a further €10m in new operating theatres at the start of 2022.

Well-located: AIB bank branch at  College Road has the Bons and UCC as neighbours

Earlier this week, the Bons Secours group announced further plans for a €300m investment delivering 450 jobs by 2025 in Cork, Dublin, Limerick, Galway and Tralee, with 80 of them ear-marked for Cork across a range of staff.

The limestone-fronted branch to serve UCC students and staff was purpose-built by UCC over 20 years ago by AIB to compete with Bank of Ireland which has a presence in the main UCC campus’s student centre: AIB bank has now transferred its UCC services to its nearby Western Road branch.

AIB former bank branch Ballyphehane Kinsale Road for sale with a €450,000 guide

Next most valuable is likely to be at the junction of Kinsale Road and Pearse Road, Ballyphehane, adjoining a local Mace shop and facing an Aldi.

The area, with a well-established population base, has extensive retail warehousing on the doorstep, as well as Musgrave Park and Tramore Valley Park, while the long-vacant CMP dairy site nearby is due for large-scale redevelopment to include 600 homes and a primary health care centre.

The semi-detached former AIB property facing a busy road junction is part two-storey and part single-storey, with a secure enclosed yard and garden to the rear, plus private tarmac surface car parking to the front, all on 0.2 acres.

Lisney guide at €450,000 and say it will appeal to owner-occupiers and investors, or may be bought for an infill development opportunity. Banks services were moved from Ballyphehane to 66 South Mall.

Services also transferred to 66 South Mall from the now-shuttered AIB branch at 31 The Cottages (pic, right) in suburban Ballintemple, facing the main Blackrock Road, a bus stop, and near bars, car and post offices and Páirc Uí Chaoimh.

No 31 is a two-storey mid terrace building with 50-metre deep rear garden.

 “It’s in an established and prime residential location and is very well located close to a range of local services and amenities,” comments Ms Isherwood, adding “while it’s in commercial use right now, it may appeal for conversion to residential use, subject to planning permission.

Other Cork AIB branch closures announced last year include Little Island (business transferred to Midleton,) North Main Street, (business moved to 66 South Mall) and Douglas Court, with services moving to the purpose-built branch on the main Douglas Road.

Meanwhile, what of the price guide on the ex-AIB branch on the salubrious Blackrock Road?

"I have to say, it's a joy working with theatre people. They all have cut-glass Blackrock Road accents, but none of them will ever have the money to live there," Reggie adjudges. Pic Miki barlok

A mere €350,000: might it be snapped up by a well-spoken resident in a €5.2m Blackrock Road mansion, Reggie? He could use as a possible safe-deposit box, as he laughs all the way home from his Evening with Reggie run just starting at the Everyman Theatre this weekend....

DETAILS: Lisney
021-4275079