Central Bank confirms site purchase for new cash centre

The Central Bank of Ireland today (14 February 2025) announced it has acquired a site for the development of a new cash centre.

The Central Bank has agreed to purchase 29.5 acres of land at Balseskin, Fingal at a cost of €14m, which it intends to use for the development of the cash centre, subject to receipt of planning permission. The acquisition concludes a rigorous site selection process.

In December 2022, the Central Bank outlined its decision to develop a new cash centre on an alternative site in the greater Dublin area, and to dispose of its current site in Sandyford. The existing buildings in Sandyford were built in the 1970’s, and are not fit for the long term.

Chief Operations Officer at the Central Bank of Ireland Marcella Flood said: “Today’s announcement marks 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.

“We at the Central Bank will now move to the next phase of the project and prepare a detailed design and an application for planning permission. We continue to expect it will be at least seven years before a new cash centre is delivered. Until such time, our operations will remain at Sandyford and we will continue to engage fully with our people and other stakeholders as we move ahead with this important project.”