Mr. Brendan McDonagh:

It is important to say that the land was sold by our debtors' receivers and that some of it did not have planning permission. To say that it had the potential for 81,000 units would mean that all of it would have got planning permission. It is effectively a notional figure. Once the land is sold, it is in the hands of new owners, who have to decide whether they will build on it. Probably between 8,000 and 9,000 units have been built on that land.