Pearse Doherty (Donegal South West, Sinn Fein)
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39. To ask the Minister for Finance the estimated cost of a new building for the Central Bank of Ireland; and the alternatives that were examined such as investigating the use of existing Office of Public Works sites. [4453/14]

Michael Noonan (Limerick City, Fine Gael)
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Under section 6B of the Central Bank Act 1942, the Central Bank Commission is responsible for administering the provision of accommodation and office and other equipment with a view to enabling the Central Bank to perform and exercise its functions and powers. Accordingly I have no function in the matter of accommodation arrangements at the Central Bank.

I have been informed by the Central Bank that the cost of the purchase of the site at North Wall Quay was €8.1m, including VAT. Other expenditure on the building is commercially sensitive at this time under public procurement rules.

I have been further informed by the Central Bank that it evaluated a range of suitable options including Office of Public Works owned premises, alternative commercial premises and retention of existing premises. The Central Bank is satisfied that development of the North Wall Quay site is the most cost effective solution for its requirements.