Bertie Ahern (Dublin Central, Fianna Fail)

The value for money analysis of the Harcourt Street site was carried out as part of an open and transparent procurement process conducted by Dublin City Council, as the project manager for the site. The site was put out to tender and 16 bids were received and evaluated against predetermined criteria. A shortlist of three bids was examined and Durkan Homes was identified as the preferred bidder. We are receiving a net consideration for the site of €15.6 million, which is in excess of €2.6 million above its pre-sale valuation of €13 million. This equates to €39 million per acre, a frightening figure but that is how the world is today. It reflects the top of the range of sale prices achieved in the city centre in recent years. It is extraordinary stuff.

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