Joan Burton (Dublin West, Labour)
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42. To ask the Minister for Education and Skills if his attention has been drawn to the forthcoming plans to sell three Dublin Institute of Technology, DIT, sites (details supplied) to finance the ongoing development of the new DIT campus in Grangegorman; if his Department has consulted with other educational providers or stakeholders regarding the purchase of the three premises concerned; and if he will make a statement on the matter. [22307/18]

Joan Burton (Dublin West, Labour)
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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.

Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael)
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The sale of the properties referred to by the Deputy is a key element of the funding strategy for the consolidation of DIT on the Grangegorman campus. The recent signing of a public private partnership contract to construct and operate two major new academic buildings on the Grangegorman site means there is now a clear timeline for vacating several existing DIT buildings around Dublin city. The disposal process is being undertaken directly by DIT and the Grangegorman Development Agency, GDA, and the proceeds realised from the sales will assist in funding further stages of the Grangegorman development. Professional property advice is informing decisions.

DIT and Grangegorman Development Agency are fully cognisant of the need to comply with all necessary departmental circulars and protocols relating to the disposal of State assets, including signalling via the State property register that properties are available for disposal. This approach gives State parties an opportunity to express interest in the purchase of these properties. In addition, the disposal of the DIT properties will require approval by the Minister for Education and Skills. Given the commercial sensitivities associated with property sales, I am not in a position to comment on any engagement between DIT, the Grangegorman Development Agency and potential buyers. Now that construction has begun, there will be a progression of the sale of the property at Cathal Brugha Street; it is the first step in this respect. It is important to note that this is just a revisiting of the proposed sale of the same property that was due to take place last year but which did not proceed. As I stated, the process is commercially sensitive but DIT and Grangegorman Development Agency are undertaking this directly.

Joan Burton (Dublin West, Labour)
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I thank the Minister of State for her reply. It is extraordinary that The Irish Timescarried a very large report indicating a price drop for a DIT-owned college off O'Connell Street. It is the newspaper of record and it stated that DIT dropped the asking price to €12 million for a high-profile college adjoining the Gresham Hotel, and it will be offered for sale in two lots. It was originally put on the market in March 2016 asking for offers in excess of €15 million. The Minister, Deputy Bruton, is always very concerned about value for money and saving money and we are in a rising market, with property prices going through the roof. It appears as if the State is knocking millions of euro off the prices of realisable properties. All around Ireland we have schools that need building, rebuilding and reconstruction, and the Minister of State is basically saying she is doing a giveaway.

At the end of the day, she has a responsibility to communicate with both DIT and the Grangegorman Development Agency. Has she been in touch with them? Have her officials brought to her attention the startling news about the price of the property on O'Connell Street dropping by such a large amount?

Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael)
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Yes, my officials have informed me of that. As the Deputy will appreciate, given the commercial sensitivities involved, I am not in a position to comment on price details. However, I can confirm that DIT is acting on professional property advice.

Joan Burton (Dublin West, Labour)
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Could the Minister of State perhaps deal with people in the property market who are aware of the enormous surge in the prices of practically everything from garden sheds to fine properties? This is an historic property on Cathal Brugha Street and the Minister of State is hiding behind this cloak of anonymity in the context of commercial sensitivity. However, she Minister is accountable to the Dáil. She is absolutely accountable to the Dáil if her departmental officials and DIT have mysteriously decided to reduce the price of a major public building behind a building in respect of which a very large sale price has just been secured. The Minister of State is refusing to be accountable to the Dáil as to how this catastrophic fall in the offer price - money that will ultimately go into the public coffers and help education in this country - came about. How is it that she and the Minister, who is so careful with the euros and cents, standing over this and citing commercial sensitivity as the reason they will not be accountable to the Dáil?

Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael)
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Again, there are commercial sensitivities involved. This is being dealt with by DIT, which is acting on professional property advice. However, I repeat that, in addition to the disposal of any DIT properties, this will require the approval of the Minister for Education and Skills.