Oireachtas Joint and Select Committees

Thursday, 12 December 2013

Public Accounts Committee

Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed)

11:40 am

Photo of Eoghan MurphyEoghan Murphy (Dublin South East, Fine Gael) | Oireachtas source

The valuation in the letter to the Department dated 12 October was €220 million. There was a figure of €240 million based on a 2005 CBRE valuation and that is sourced in the document of 20 October. There is a valuation of €250 million - a typo - in the minutes of the meeting of 24 October. The next valuation is €268 million, an internal figure mentioned in the document of 20 October, and then there is a figure of €300 million based on the DDDA's internal figure, the source for which is the document dated 3 October. We do not know why that was not referenced in the letter of 12 October. We have a valuation of €350 million based on the site sold in East Wall and the source is the document of 3 October, a figure of €400 million based on the informal valuation by the letting agents, the source for which, again, is the document of 3 October. There is then a valuation of €430 million based on McNamara's work which is referenced in the minutes of the meeting of 24 October. Finally, there is the valuation of €412 million which was made officially by the CBRE after the bid was submitted. There are nine or ten valuations, seven of which were calculated and discussed in a three week period. How does Mr. Maloney explain the inconsistency?

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