AIB Bankcentre: bids

Hibernian Aviva is understood to have received several bids last week for all four of the office blocks it owns at the AIB Bankcentre in Ballsbridge, Dublin 4. The institution was planning to sell only two of the blocks but sources said bids of about €90m had been submitted for the four buildings, which had been acquired for more than €175m in April 2006 and are let to AIB for 17 more years.


The deal with Hibernian Aviva was part of a larger deal that saw property developer Sean Dunne acquire four other blocks and land to the front of AIB headquarters. In total, the deals raised nearly €380m for AIB.


The blocks were sold by the bank at the peak of the market and followed the earlier sale and leaseback of its headquarters building to the Serpentine consortium for nearly €370m while the bank also sold off a significant chunk of its branch network at the top of them market.


Hibernian has previously stated that it received "unsolicited approaches" about the office blocks and other properties it owns.


Private equity group Claret Capital, which is headed by Domhnal Slattery, had come close to acquiring two of the office buildings for €50m but the deal collapsed.


Hibernian Aviva did not respond to queries seeking comment.