Robert Dowds (Dublin Mid West, Labour)
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218. To ask the Minister for Finance the persons-bodies that approved the decision to purchase a new building for the Central Bank of Ireland for €140 million on the North Docks in Dublin; the reason such a high price was paid for a building; and if he will make a statement on the matter. [46245/14]

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 administrating the provision of accommodation and the acquisition and disposal of land by the Central Bank. As Minister for Finance, I have no role in the matter.  

As I indicated in a response to a previous Parliamentary Question (written answer No. 39 of 29 January 2014), the Central Bank has confirmed to me that the cost of the purchase of the site at North Wall Quay was €8.1m, including VAT.  The Central Bank is not in a position to comment on the estimated total cost of completion of the building as the project is subject to a competitive tendering process.

I have been 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 the development of the North Wall Quay site is the most cost effective solution for its requirements.