Knockdown price for State land
The shares in the company shot up by 70 cents or €25 million in value yesterday following news of the move. The land in question, which housed the former Irish Glass Bottle Company in Ringsend, Dublin, is said to be worth an estimated €300 million. But the company is attempting to buy it for less than €20 million.
Dublin Port Company, which owns the land on behalf of the state, said it would fight the move all the way to the Supreme Court. But South Wharf says a legal loophole justifies its move to buy the prime land.
