RTE earns more than €107.5m from sale of Donnybrook lands

RTE has completed the sale of lands at its Donnybrook complex to Cairn Homes for more than €107.5m.

Dubbed 'Project Montrose', the sale comprised 8.64 acres of lands owned by the national broadcaster.

The site sits adjacent to RTÉ’s broadcasting headquarters in Donnybrook. There is space on the site for up to 500 units comprising a mix of apartments and houses, subject to planning permission.

After the competitive bidding process run by Savills, director Mark Reynolds said: "This is the most significant land sale to have taken place in Dublin in 2017 and sets a new benchmark for land values in the area."

Dublin City Councillor Chris Andrews has said he is very disappointed.

“I have been a long term advocate of Social and Affordable units on this piece of land at RTE. I am bitterly disappointed that the Government has decided to let it slip through their fingers.

"The opportunity has been missed to provide the maximum social and affordable units here but now we will see the bare minimum while hard working families in the area worry about their housing prospects in the future," he said.