RTÉ to pump proceeds of Montrose sale into upgrades

The boss of RTÉ has said funds raised from selling almost nine acres of its Montrose land to Cairn Homes for €107.5m will be invested in improving the public broadcaster’s services as well as reducing debt.

Branded as Project Montrose, Savills said the 8.64-acre site alongside RTÉ’s broadcasting headquarters in Donnybrook, Dublin 4 would allow Cairn to develop a housing scheme of up to 500 apartments and houses.

RTÉ put the Montrose site up for sale in March. The complex represents 25% of its 32-acre campus. The sale announced yesterday far succeeds the initial guide price of €75m in March.