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HSBC Ireland has entered the commercial property lending market for the first time after advancing a €100 million (£89m) loan for the redevelopment of the former headquarters of the Central Bank of Ireland.
The Central Bank, which had been based on Dame Street since 1980, moved its offices to North Wall Quay in Dublin’s docklands in April of this year.
HSBC said the four-year development loan was provided to Peterson Group and Hines who are jointly redeveloping the site and other adjacent buildings on Dame Street in the centre of Dublin, having paid the regulator €67 million (£59 million) for the properties.
