‘No consultation’ on glass bottle site value
Filings lodged by Becbay Ltd — the vehicle established to develop the Glass Bottle site — confirm that the further writedown is based on the opinion of the two and is not supported by an updated external valuation.
The 25-acre former glass bottle site was bought for €411m in 2006 in one of the biggest deals during the building boom and Becbay is 41% owned by Mr McNamara; 33% owned by financier Mr Quinlan with the Dublin Docklands Development Authority (DDDA) owning the remaining 26%.