Ulster Bank announces purchase of Danesfort Complex

Ulster Bank has announced that it has purchased the Danesfort Complex in south Belfast, a year after having taken leasehold interests in three floors of the building, to house the Bank’s new Account Management Centre.

As well as the existing office building, the purchase also includes a secure 330-space multi deck car park, which will be constructed by the former owners at the rear of the office complex within the next year. Ulster Bank's Information Technology teams are also located at Danesfort, which now accommodates 600 staff.

Martin Wilson, Group Chief Executive of Ulster Bank, explained the rationale behind the decision: "Ulster Bank is committed to a growth strategy that will maintain our branch network while providing customers with a first rate service. Part of this overall plan was the establishment of the Account Management Centre in Danesfort last year which has proved to be very successful. With back office operations now centralised at the AMC, staff within the branches have more time to deal with customer needs.

"The purchase of Danesfort is a major investment that not only indicates our commitment to both customers and staff, but also represents a much more cost effective solution for Ulster Bank in terms of accommodating our back office operations.

"This investment represents a significant endorsement of Northern Ireland as a highly competitive location, with Ulster Bank providing 210 new jobs in Northern Ireland over the next five years."

Ulster Bank is also in the final stages of the Horizon restructuring programme which commenced in October 2000 with roll-out on target to be completed by the end of this year.

Horizon aims to improve customer services by freeing more staff time in branches, while creating 33 Business Centres across the island. (MB)