The former National Irish Bank near the GPO in Dublin's O'Connell Street, is expected to be converted into retail use when its sale is completed shortly.

An investment group has agreed to pay close to the asking price of €1 million for the highly distinctive four-storey over basement building which was converted for bank use in the 1950s.

It has 641sq m (6,900sq ft) of floor space, including 292sq m (2,066sq ft) in the ground floor banking hall.

There are two single storey extensions to the rear along with a small yard accessed from Parnell Place.

The building was designed by Scottish architect David Bryce and completed in 1863.

The pediment is supported by six fluted Corinthian columns and has a carving of The Ten Virgins by John Steell.

Branch sales
The bank branch was one of 26 which ceased trading last November when owners Danske Bank decided to close its retail banking operation in Ireland.

Stephen McCarthy of agent Savills has since sold 12 of 14 branches owned by the bank.

These included the Kilkenny branch which made considerably more than the guide price of €650,000.

The Galway branch at Eyre Square also fetched more than the €720,000 guide while the buildings in Letterkenny and Carrick-on-Shannon easily exceeded the €220,000 quoting prices.

The branch building in Wexford made close to €400,000, Sligo got somewhat less than the €400,000 asking price while the branch in Earl Street, Dundalk, sold for less than the suggested price of €800,000.

Several more sales are currently under way while little progress has been made on offloading the branches in Mullingar and Finglas.