Joan Burton (Dublin West, Labour) | Oireachtas source

Is the Minister aware of the report in the media last week of one of the three DIT-owned colleges being put up for sale as a result of the development of the Grangegorman campus? Originally, it was offered for sale at €15 million a year and a half ago. The offer price has now apparently been reduced to €12 million at a time when property values are going through the roof. I simply cannot understand this. Why was there such a significant fall from an estimated value of €15 million for the property on Cathal Brugha Street? People may know it is behind the Gresham Hotel, which recently sold to an overseas property group for over €92 million. This very large and attractive property directly behind the Gresham is now apparently being put on the market at a lower price. The Minister has indicated that the Department of Education and Skills is in need of money and trying to save money. This seems extraordinary so I ask the Minister for an explanation.

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