Independent TD paid €4m for site in capital now worth just €350k

A site in Dublin that Independent TD Mick Wallace paid €4m for is now worth only €350,000.

That is according to new documentation lodged with the Companies Office that show that a string of Mr Wallace’s former properties have plummeted in value.

The receiver’s extract, lodged by receiver Gerard McInerney of McInerney Saunders on behalf of AIB, puts a combined value of €2.57m on the properties.