Oireachtas Joint and Select Committees

Wednesday, 22 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Brendan McDonagh:

Because there's just such a range of information, but, you know, every piece of land is worth something, right, so, you know, something might have been bought for €200,000 ... might have been lent to buy at €200,000 an acre and, when we came to buy it from the banks, we probably would have just paid agricultural value for it, so I would say that probably, in that type of scenario, you're talking about 5% is probably the lowest that we would have paid for it, yes.