€9.5m for campus at All Hallows as college closes up
The historic campus at All Hallows College in Drumcondra in Dublin has been put ont eh market for an estimated €9.5m.
The college, which announced it ended to wind down its operations last May due to shrinking demand, said that in order to "fulfil the commitment to students and staff, it is necessary to realise assets in some manner or achieve a partnership and new arrangements which will sustain the college into the future".
There are said to be about 260 students remaining at the college, which was founded in 1842. It is currently a College of Dublin City University (DCU) and a school of Faculty of Humanities and Social Sciences.
Annoucing the plan, the college said its preferred outcome is that the assets of the college be retained, as far as possible, within the third level educational sector generally.
"However, acting prudently, it cannot be assumed that educational partnerships will be available, at all, or on appropriate terms and the College must manage its affairs to meet its obligations.
Therefore, the search for suitable interested parties will include others who may look at alternative uses for the campus, All Hallows added.
College president Fr Patrick McDevitt commeted: "Ideally, AHC would like to retain a presence on campus to continue aspects of its mission.
"This could be achieved, for example, within a partnership agreement or within a context where All Hallows College remains in occupation of part of the property as a tenant.
"The college campus is a fine resource with much potential to continue as an important educational facility under adapted or different stewardship.
"In any event, All Hallows College intends to continue aspects of its mission whether on the campus or elsewhere," he added.
The sale is likely to be closely watched. The land is desirable to developers but there will be huge pressure to keep the site in academia.