Mr. Seamus McCarthy:

There were a relatively small number, but I think there was one case and we mention it in the triennial report. I am just speaking from memory now. It is obviously a while since I looked at it. There was one disposal where the original competition fell apart and I think a second bidder came in and made an offer, and the deal was done on that basis.

I think there were other circumstances - very often I think where there was a public body or maybe a charity involved - where there was not actually a market at the time and where they would have sought a valuation and said, "Our estimate of the market value of this property at the moment is X and if you match X, we'll sell it to you". So in lieu of a competition there was a market testing of the value of the property.