Oireachtas Joint and Select Committees

Thursday, 3 October 2024

Public Accounts Committee

Financial Statements 2022: University of Limerick
Special Report No. 117 of the Comptroller Auditor General: University of Limerick Property Acquisitions in Limerick City

9:30 am

Mr. John Field:

I will come in on those points. The acting president referred earlier to the development of a business case. We will have to develop a number of options for the building now in terms of its potential and obviously evaluate and appraise which are the best options to proceed. Some work has commenced on that. In 2021, the university and Limerick City and County Council jointly made a submission to the urban regeneration and development fund. That submission was for a building with an estimated investment of close to €200 million. Approximately half of that was student accommodation and the other half was for teaching and research activities. That bid was only partially supported. It was supported for the purpose of progressing the business case and the appraisal further. It identified that we had not sufficient appraisal done. We are now in that process to appraise it.

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