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Central Bank acquires site for cash centre

The Central Bank has acquired a site for the development of a new cash centre.

The regulator is to purchase 29.5 acres of land at Balseskin, Fingal at a cost of €14m, after a rigorous site selection process.

This will be used for the development of the cash centre, subject to receipt of planning permission.

In December 2022, the Central Bank said it planned to develop a new cash centre in the greater Dublin area, and to dispose of its current site in Sandyford.

The existing buildings in Sandyford were built in the 1970s, and are not fit for the long term.

Milestone

Chief operations officer Marcella Flood said the announcement was an important milestone to deliver critical infrastructure in the national interest.

“It demonstrates our and the eurosystem’s commitment to supporting the availability of cash as a means of payment.

“The new cash centre is a significant investment by the Central Bank, funded from its own resources,” she said.

The Central Bank will prepare a detailed design and planning permission application, which is expected to take seven years before completion.