Just on the late news. DCC have confirmed that RTE have sought the rezoning of half their 26 acre site to mixed development including residential. That is great financial planning from RTE, the site value must have fallen ONLY 60%+ from its peak at this point!
It's a great retort to any argument for a higher license fee...
Your grounds are worth millions, sell them and move...
Anyone care to guess what they might have been worth at the top of the market?
Liquidate labour, liquidate stocks, liquidate the farmers, liquidate real estate.
At a guess maybe €500million+.Originally Posted by Defeated Romanticist
Clever move as now is the time to get rezoning when no development is happening.
Things must be bad if they're contemplating selling the family silver.
Then again, they'd sooner that than go without their inflated salaries and egos.
Flogging a major asset to fund day to day expenses is nearly as bad as the government borrowing long term to fund todays fiscal crisis. Nobody in RTE or government will tackle the real problems and i think both groups think they can ride this out till good times come again and their assets return to "what they are really worth".
And the reason for not applying during the property bubble was ?
What a bad decision that will prove to be.
They might build the Central Mental facility on these grounds. It would be ideal.
I'm not sure if this is true but I heard once that part of the land at Montrose was designated a bird sanctuary in the 1980s. The request was made during Deputy Burke's period as Minister for Communications. Apparently the RTE hacks feared that he would look to sell off the land and shunt them out to somewhere around Newlands Cross. Looks like he might get his wish now.
All this talk of how it was a mistake not to sell it during the boom spectacularly misses the point. It should be crystal clear to everyone at this stage that the prices that property was fetching at the peak was bad, not good.
What would be the benefit in RTE selling for €500million to some developer in 2006? The money would probably have come from one of the banks that we are now trying to bail out for funding the sort of deal that people hear are salivating over? RTE get half a billion, tax payer foots the bill. We dodged a bullet.
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