Joe McHugh (Donegal, Fine Gael) | Oireachtas source

I thank the Deputy for his kind words this morning. My Department's decision to acquire the site was taken in the context of a review of demographics of the area which demonstrated a substantial projected growth in enrolment, known limited land availability and the impending sale. From a school provision perspective, this site is well located to serve south Dublin city.

In March 2017 my Department requested of the Irish Greyhound Board, that the DPER Circular 11/15: Protocols for the Transfer and Sharing of State Property Assets be followed to advance the acquisition.

This circular requires the Valuation Office to provide a determination of market value of the property to be disposed which is binding on both the disposing and acquiring Government Department or State body. The Valuation Office is an independent office which provides independent and impartial market valuations. It is staffed by civil servants. The Valuation Office completed its valuation on the Harold's Cross site in April 2017 in accordance with the Royal Institution of Chartered Surveyors Valuation professional standards and international valuation standards. The valuation took into account, among other things, an analysis of the existing market, the property's zoning relative to residential values and the need to clear the site of existing structures. The Valuation Office report concluded that the site had a market value of €23 million. In May 2017, a formal offer was made by my Department to the Irish Greyhound Board for the site in line with this binding valuation. The acquisition was completed in May 2018.

In the interests of transparency I have arranged for the Valuation Office report and an update from the office related to that valuation that was received by my Department earlier this week to be published on my Department's website.

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