Oireachtas Joint and Select Committees

Thursday, 9 October 2014

Public Accounts Committee

2013 Annual Accounts of Shannon Free Airport Development Company

12:35 pm

Photo of Joe CostelloJoe Costello (Dublin Central, Labour) | Oireachtas source

I agree entirely, but Shannon Development is restructuring. As a result of the review, it was determined that the value of 49 industrial buildings and 61 industrial land holdings required to be written down. It was also determined that the value of approximately another 400 required to be written up. There was engagement to a certain degree in sales, but only two of the 11 properties were actually advertised. It does seem a little strange that there was not a more proactive or structured approach to the sale of the properties.

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