OPW to begin casting off assets

Minister of State at the Department of Finance, Tom Parlon, has signalled the start of a major programme to sell State assets.

Mr Parlon today announced the disposal of a valuable site in Dublin city. The plan was part of the Programme for Government and the money raised will be ring fenced to fund specific projects.

The Office of Public Works has a property portfolio valued at €2.5bn. It includes disused buildings such as old garda stations, as well as sites and facilities that are no longer needed.

As part of a coalition commitment, it is reviewing those assets to see how many can be sold.

Today it unveiled the first fruits of that operation: the OPW's former maintenance headquarters, a valuable one acre site in the heart of Dublin, off Baggot St.

It could realise up to €15m, and the Government has decided the money will be used to expand the National Educational Psychology Service, to refurbish dilapidated garda stations, and to buy out leases that are costing the OPW millions in rent.

Junior Minister Parlon would not say how much would be realised from the sell off programme when it is complete.

Office of Public Works is wary of depressing prices by flooding the market with sales, and is likely to phase in any further announcements.

Green Party calls decision an 'act of desperation'

The Green Party has described the Minister of State, Tom Parlon's proposal to sell-off parcels of publicly-owned land as an 'act of political desperation'.

Green Party Finance spokesperson, Dan Boyle, said Mr Parlon's proposal to scratch around looking for parcels of land and under-utilised buildings to sell off smacked of gross short-termism.

Mr Boyle said Tom Parlon seemed prepared to disregard the fact that these assets had a potential use and could be converted for valuable public purposes such as building land for social housing, converted buildings for community facilities or housing to facilitate vital social services.