Watchdog hits out over Shannon sale of land

SHANNON Development has been criticised in an official Government report over the way it handled the sale of land it owned in Limerick.

The report by the Comptroller & Auditor General, John Purcell, found the company had acted inappropriately in the procedures it adopted to sell its property at Coolraine, Ennis Rd, Limerick, seven years ago.

The State’s spending watchdog estimated the decision not to sell the property by tender had cost Shannon Development around €150,000. He concluded the company had not followed good practice over its failure to sell the 3.5-acre site on the open market.