Limerick bank building reopening faces delays and rising costs, project update reveals

CONCERNS were raised over rising costs and delays to the reopening of the former Bank of Ireland premises in Rathkeale during the January meeting of the Adare–Rathkeale Municipal District, where an update on the building was discussed.

Cllr Bridie Collins said that to date more than €400,000 has been spent on maintaining the property, yet the doors are “nowhere near opening”.

She explained that it will be at least another 12 months before the project is even at the stage of applying for the next round of Community Enterprise funding, which is expected to amount to approximately €2 million.

She also queried what plans were in place to ensure the front of the building is properly maintained. A representative from the Town Centre First team said that responsibility lies with the property management team, which is currently putting together a maintenance schedule to ensure the exterior of the building is kept in good condition.

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Cllr Adam Teskey said he was struggling to understand how costs had escalated so dramatically.
“This building was in operation less than four years ago as a fully functioning Bank of Ireland branch.

“It was perfect the day it came into our ownership, and now we are talking about spending in the region of €2.5 million to bring it back up to standard.

“What has happened in the last four years to require that level of investment?” he asked.
Cllr John O’Donoghue said the fact that the building is listed significantly increases costs.

“Once a property is protected, even a €100 job can quickly become a €1,000 job.“It effectively becomes an open chequebook when it comes to maintenance and restoration,” he said.

-Funded by the Local Democracy Reporting Scheme