Thursday 22 March 2018

Development of tricky site is no 'slam dunk'

The RTÉ campus at Montrose in Dublin 4
The RTÉ campus at Montrose in Dublin 4
The Mast at RTE Montrose which is to become a protected structure.
Mark Keenan

Mark Keenan

THE sale of all or part of RTÉ's 30-acre complex for development purposes at the high market values recently bandied about is "certainly no slam dunk" according to one market source. Some have put a market value of €300m on the land while in fact €150m is more likely - with €200m considered a "best case" scenario.

It was changed from very restrictive institutional zoning in 2013, which called for controlled development with local amenities and institutional use in mind. But its current status still calls for institutional use, with a bias towards lots of green space.

Restrictions may have altered somewhat due to the interpretation of a series of legal actions taken against the council by religious orders in recent times against such zonings. But, essentially, the earmarked usage is still quite restrictive.

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