Trio of banks set to go on sale at end of the month

Have you ever wanted to own your own bank? Or, even still, live in one? Now is your chance with news that three-former bank buildings in the county are set to go to auction later this month. It’s the kind of deal which at one stage would have had peak-time property developers salivating and queuing at the door. However, the extraordinary turn of economic events which followed have meant that owners Ulster Bank have had to reign in their valuations, with each of the former-branch premises set to sell with estimates in the region of €50,000.
Situated in prime Main Street locations in each of their respective towns, the former-bank buildings in Belurbet, Killeshandra and Kilnaleck are being put up for sale at auction at the Hotel Kilmore, Cavan Town on October 23, at 3pm.
With Tony Breathnach and DTZ Sherry FitzGerald as selling agents, The Anglo-Celt understands that already the properties have generated considerable interest locally.
Ulster Bank shut the rural town branches back in May of this year, saying the move was part of a “major service review” by the bank.
As a result customers’ accounts in Killeshandra have now transferred to Arva, Kilnaleck’s to Ballyjamesduff and Belturbet’s to Ballyconnell. The Belturbet branch of late was the subject of an approach of members of the Town Council who appealed to the bank’s hierarchy for the local building to be donated as a “goodwill gesture” for community use.

Valuations
Of the three landmark buildings to go to auction, the two-storey former-bank building in Kilnaleck has the highest estimate of €55,000.
Enclosed on a site extending to approximately 0.05 acre with rear yard and storage sheds, DTZ FitzGerald describes it as benefiting from “a modern fit out from the previous occupier”.
Comprising of a 1,045 sq ft first floor, consisting of  a public area, cashiers area, strong room, three offices and staff amenities area, the first floor includes a manager’s office, server room, back office, toilets and storage rooms. With rates payable of €3,695.25, the building here has a BER rating of ‘G’.
Next is 1 Holborn Hill, Belturbet, a 19th century protected structure on a 0.3 acre site with a guide price of €50,000. The two-storey building includes the public bank area, three interview rooms, two strong rooms and staff amenities, while the server room and store rooms are located on the first floor.

Bag a bargain
The cheapest estimated value of the three properties is attached to the former-branch in Killeshandra, at €40,000.
Located on the junction of Lower Main Street, Castle Street and Church Street it occupies an enclosed site of extending to approximately 0.22 acre with secure gates to the side laneway.
The 1,182 sq ft ground floor comprises of an open plan office area with ancillary offices and storage rooms whereas the first floor incorporates the staff amenities area and three large offices.
The second floor has four rooms used for storage, and the basement area of this property is split into two separate areas formerly utilised by the bank as strong rooms and counting rooms.
Meanwhile the Ulster Bank branch at The Square, Castlepollard has also gone for sale, although by Private Treaty. Situated on a 0.74 acre site, with yard and outbuildings to the rear, Ulster Bank are seeking offers in excess of €145,000.