Council agrees deal to buy former bank branches in Limerick towns

LIMERICK City and County Council has agreed to buy a number of 'landmark' properties which were previously branches of Bank of Ireland.

Elected representatives have been informed that offers to buy the buildings in Abbeyfeale, Askeaton, Bruff and Rathkeale have been accepted as "preferred bids" and that the formal legal process is continuing.

The four former Bank of Ireland branches closed last October along with a number of branches in Limerick city.

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In an email, sent to councillors this Friday morning, Vincent Murray, Actor Director of Economic Development & Enterprise confirmed an agreement has been reached with auctioneering firm Sherry Fitzgerald which is handling the sale of the buildings.

"The sale of these branches presented a unique opportunity for the Council to acquire landmark building in the centre of some of our key towns, and to repurpose these buildings to continue to provide a valuable service to the community," he stated.

The email, which has been seen by the Limerick Leader, adds that funding will be sought from central government to upgrade the buildings - possibly for use as E-hubs or other community facilities.

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Welcoming the agreement to purchase the four properties, Cllr Adam Teskey said. "It's very positive, I was the first councillor to bring a motion forward (to the council) in relation to the branches in Rathkeale and Askeaton and to find out that they have also agreed to buy Abbeyfeale and Bruff is an extended benefit to those communities and this will be very welcome."

Cllr Teskey, a qualified auctioneer, says he hopes each of the buildings can be upgraded to ensure they can be a focal point in each of the towns in future.

"Hopefully, they can be of use to the public - be it as an economic hub or to facilitate other community groups by bringing them on board," he commented.

The agreed purchase price has not been disclosed publicly and it's not known when the local authority will formally take ownership of the four former bank branches.