Dublin City Council is considering buying the building, which is on sale with a guide price of €13.5 million.
DCC is considering buying the former Ulster Bank building on Dublin's College Green with plans to convert it for social housing, the
Irish Times has reported.
Ulster Bank ceased operation in the Republic of Ireland in April of this year, with the bank's parent company Nat West making the decision as
Ulster Bank's performance did not properly recover from the impact of the property and banking crisis.
The bank's former branch building at 33 College Green in the heart of Dublin city dates back to 1890, and features a large 1970s extension.
The former Ulster Bank building on College Green, via Google Maps
As reported by the Times, the council has yet to assess how many apartment units the building could house after conversion. A feasibility study prepared by
Reddy Architecture + Urbanism suggested the former bank would have capacity for up to 147 hotel bedrooms, though this number of rooms would be reduced if the building was converted to apartments.
The council is also in negotiations to purchase a former Bank of Ireland building in Phibsboro - a two-storey 1890s building which runs east from Doyle's Corner on North Circular Road, with space for four two-bedroom apartments.
According to a
separate analysis by the Irish Times there are currently more than 12,000 homes and commercial properties laying vacant across Dublin alone, 40% of which have been vacant for over four years putting them at risk of dereliction.
Lead image via Google Maps
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