RTÉ hoping to cut losses by raising €50m with sale of prime land at campus site
RTÉ is to sell up to four acres of prime land this year in a bid to plug a hole in the national broadcaster's pockets.
Several management meetings were held this week at the Montrose campus in Donnybrook to finalise the terms of the sale as losses for last year reached around €20m.
Dee Forbes, RTÉ director general, briefed staff across all departments yesterday afternoon during an internal meeting. It could see the broadcaster realise €50m for the land sale.
Land to the west of the campus, from the radio building to the edge of Donnybrook Church, is the earmarked section to be sold, which is up to four acres in size.
In leaked correspondence to staff, the broadcaster states: "RTÉ has been giving serious consideration to the best options for the redevelopment of the Donnybrook campus for some time.
"Following today's meeting of the RTÉ board, RTÉ has informed its staff of its decision to sell a portion of underutilised land on our Donnybrook site, west of the Radio Centre.
"While the exact timings around the sales process and final details of the land to be sold are still being finalised and are commercially sensitive, RTÉ can confirm our intention to sell in the first half of 2017.
"Savills has been appointed to manage the sale, following a public procurement process."
Late last year, management unveiled a new overall plan for its campus involving the possible sale of land for the development of 500 houses.
Management now intends to consolidate its operations in the south-eastern section of the valuable campus.
A €1.5m purpose-built crechè, opened just eight years ago, on the west side of the campus is to be demolished in the coming months which will facilitate the sale. A new access route into the campus from the Stillorgan Dual Carriageway has also gotten the go-ahead from Dublin City Council after planning permission was sought.