Monday 23 October 2017

Why we should use RTE's €90m site sale to fund the new maternity hospital

Like the property owned by the nuns or bishops, ultimately RTE's land belongs to the people, writes Eilis O'Hanlon

RTE director-general Dee Forbes wants to spend the money raised from the sale of the land on ‘technology upgrades and in key digital infrastructure’. Photo: David Conachy
RTE director-general Dee Forbes wants to spend the money raised from the sale of the land on ‘technology upgrades and in key digital infrastructure’. Photo: David Conachy

Eilis O'Hanlon

Plans to sell off RTE land at Donnybrook continue apace. In March, the national broadcaster listed for sale a parcel of land totalling 8.64 acres through posh estate agent Savills at a guide price of €75m.

Last Wednesday, Michael Stanley, CEO of Irish property developer Cairn Homes, confirmed to the company's AGM that it would be bidding for the site, with the aim of building up to 500 apartments together with underground parking, giving residents a bird's-eye view of RTE stars arriving for another hard day's work at the coal face.

In preparation for the bid, the company has been trying to raise money by placing shares in the company with institutional investors.

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