Investments:With the ACC Bank continuing to shift its focus from farming to business banking, the Rabobank subsidiary plans to offload a string of former branches in the coming months.
Three of them going for sale today are at Market Street in Kilrush, Co Clare; Church Street, Kanturk, Co Cork; and Bridge Street, Skibbereen, Co Cork.
Dublin estate agent HWBC is to handle the sales in conjunction with local agents.
An important selling point for the properties is that, with class 2 retail status, they can be occupied by a building society or bookmaker without the need to seek planning approval.
HWBC says that this should add considerably to the selling price of the buildings as many local authorities are actively discouraging such uses on the main streets of provincial towns.
The two-storey end-of-terrace Kilrush building has a guide price of over €650,000 while the branch is Skibbereen should make over €600,000. The building in Kanturk has an AMV of €350,000. All three are to be auctioned.
Earlier this month ACC Bank announced plans to open four new business centres in Galway, Sligo, Limerick and Ballina. The intention is to provide more specialised skills and services in centralised locations for customers.
The bank also announced that it was closing its business units in Carrick-on-Shannon, Thurles, Newcastlewest, Ballinasloe, Listowel and Wicklow in November and December with New Ross closing early in 2008.
Over the last few years the bank has changed the focus of its strategy to concentrate on the provision of banking services to the business sector as well as developing a dedicated wealth management service. ACC claims that its new strategy is proving successful as commercial loans and advances now exceed 50 per cent of the total loans and advances to customers.
