Ronan Group Real Estate (RGRE) has secured a 10-year planning permission from Dublin City Council to partially demolish and reconstruct the Citi bank headquarters at 1 North Wall Quay in Dublin, as reported by the Irish Independent.

The Irish Independent reported that the approved scheme will see the existing six-storey building replaced by four new blocks ranging from seven to 12 storeys on the 0.88-hectare site, roughly doubling the height of the current structure.

The original building, completed in 2000 as the headquarters for what was then Citibank, was acquired by RGRE three years ago for a reported €140 million. An earlier 17-storey proposal was refused by Dublin City Council and subsequently rejected on appeal by An Coimisiún Pleanála, prompting a revised design submitted last December that reduced both the bulk and the height of the scheme.

Council planners noted approvingly that the revised proposal retained 70 per cent of the existing structure, with existing facades to be removed and replaced as part of the redevelopment.

The approved scheme will deliver office accommodation alongside 660 sqm of community space, a landscaped community park of 244 sqm to the east of the building, and a pedestrian link. Car parking will be reduced from 164 spaces to 32 basement spaces, while 718 bicycle spaces and four motorcycle berths will be provided.

As a condition of the permission, RGRE will be required to pay a development contribution of €6.7 million to Dublin City Council, plus a further €2 million in respect of Luas works.

Rory Williams, CEO of Ronan Group, said: "This is another good news day for the development of best-in-class commercial space in Dublin along the Liffey quays. The company has built the stunning Salesforce tower on Spencer Place, is approaching completion of Citi's HQ building on Waterfront South Central, and has planning permission for a 25-storey residential building beside that development, all along the north quays."

RGRE is currently completing a new European headquarters for Citi at the Waterfront South Central scheme, also on the north quays. Due for completion this year, the new facility will offer 459,000 sqft of commercial space across 12 storeys including a triple basement. Redevelopment of the current Citi building will commence once the occupier has relocated, subject to the permission surviving any further appeal to An Coimisiún Pleanála.

View the full planning details and development overview here.