Why are we moving?
The Central Bank is developing a new city centre head office at North Wall Quay. Our current accommodation arrangement sees staff spread across four different city centre locations. This has presented the Central Bank with challenges in operating efficiently and effectively in the context of an increased staff head count over recent years and an evolving organisational mandate.
We considered a number of options for the future, including investment in our existing properties, before deciding to locate all staff in a new building, choosing a partially constructed building at North Wall Quay for a purchase price of €7m. Our analysis shows that this is the most appropriate solution for our long-term accommodation needs.
The improved workplace layout and facilities at North Wall Quay will facilitate an improved Central Bank, both operationally and organisationally. The new building will provide a modern, sustainable and fit-for-purpose workplace, built to our needs and offering flexibility.
The design of the building is informed by a number of key principles including creating a workplace which brings all city centre staff together maximising the opportunities for collaboration and sharing; addressing environmental challenges; achieving very high energy and sustainability targets; making a contribution to the architectural skyline of the city and the quays, and reflecting the distinct and civic nature of the organization.
In November 2015 the Central Bank purchased a Spencer Dock building it had been leasing. At the time it was noted that the purchase of the building made good business sense for the Central Bank to own the building rather than continue to lease the building. It was noted that the building would provide the Central Bank with capacity close to our building at North Wall Quay should such capacity be required at a future date.
Due to the increase in the Central Bank's functions and mandates in recent years, which has led to an associated increase in headcount, the need to utilise the space in Spencer Dock has come earlier than expected.