Mr. Brendan McDonagh:

That site is in receivership. We looked at the possibility of trying to do a JV but the big problem that happened here is that land values have increased dramatically over the past 12 months so the valuation of that site has also gone up dramatically. The situation on that site now is that the valuation could be in excess of the debtor's par debt and the debtor could have equity in the site. Having said that, that means that whoever buys that site would clearly have to work with DCC on St. Teresa's Gardens on the back of it. I am aware of the site and the need for a master plan for working together. Anybody who wishes to approach the receiver and make an offer for the site must be aware that the receiver will consider it but, equally, that the receiver has a legal obligation to the debtor.