A range of buyers is likely to be interested in the First Active headquarters building, Skehan House, at Booterstown, Co Dublin, which is to be sold by tender on October 12th.
DTZ Sherry FitzGerald is quoting a guide price of £12 million for the 52,292 sq ft building, which dates back to 1978.
The sale comes a week after First Active also put 20 branch offices on the market as part of a major cost cutting exercise by the bank. The selling agents say the Booterstown block is likely to be of interest to owner-occupiers, developers and companies involved in apartment schemes.
The most likely outcome is that the three-storey block will either be extended to provide an additional 10,000 sq ft or will be enlarged and converted into apartments. Larger houses on adjoining Booterstown Avenue are valued at over £750,000.
Skehan House stands on 2.2 acres which include 141 car-parking spaces. The site also has four two-storey over garden level houses.
Two of them have been converted into offices and the others are used as stores.
First Active plans to relocate next May to a new 76,000 sq ft building under construction at Central Park in Leopardstown.
At that stage, it also plans to transfer staff to Leopardstown from 11,000 sq ft of rented offices at the bottom of Grafton Street and 15,000 sq ft of space rented at Lower Abbey Street.
Skehan House was built by McLoughlin and Harvey in 1978 and extended six years later to meet the increasing demands for space by then building society.
