Home Business news from ireland RTÉ hopes to raise €50 million from selling some of its Dublin...

RTÉ hopes to raise €50 million from selling some of its Dublin headquarters


The state broadcaster needs the money to invest in its television facilities and technology.

Its property in Donnybrook is valued at €12 million to €15 million a-hectare.

Last year Communications Minister Alex White published a review of RTE’s finances, titled NewEra, due to the stations fall in advertising revenue since the recession.

The NewEra report found 40pc of the Donnybrook site is either undeveloped or used as a car park. It stated that

“Use of the Donnybrook site is not optimal. Options concerning the site should be developed with robust analysis of costs and benefits – all options should be considered, from no sale of the site, partial sale of the site, full sale/land swap,”

The station has been cash-strapped in recent years and has lost out on broadcasting many future major sporting events due to its lack of money.

The report said the amount of office space for the 1,530 staff is above average for a modern building.

“RTÉ could consider selling the site in its entirety to move to a new location as there is no imperative, in our view, that it need remain in Donnybrook,” it adds.

After reviewing the report RTE brought in property dealers CBRE and accountants KPMG last year to advise it on its options, one of which was said to be selling the entire site and moving to a new home.

The chairman of the Oireachtas Communication Committee also urged RTÉ to seriously consider selling off some of the land surrounding its headquarters in Donnybrook.

Mayo TD John O’Mahony said almost 40pc of the national broadcaster’s Montrose campus was not being properly used and should be sold.