Minister of State Tom Parlon has signalled the start of a major programme to sell state assets with the announcement of 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 €2.5 billion which 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 Street.
This 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.
Minister Parlon would not say how much would be realised from the sell off programme when it was complete. The OPW is wary of depressing prices by flooding the market with sales and is likely to phase in any further announcements.
