Teagasc land sale plan stalled by Government

PLANS by Teagasc to sell off property to fill the gap caused by a Government funding cutback of €15 million are being stalled by the Department of Finance.

The farm development authority’s proposal to sell lucrative property in Dublin, Cork, Wexford and Kildare to make up for the budget shortfall is understood to have fallen foul of the Department of Finance.

Department of Finance policy does not normally allow for proceeds from the sale of assets to be used for day to day spending. The department is refusing to sanction the Department of Agriculture’s request on behalf of Teagasc, preventing the cost-cutting programme from being implemented.

The sale of the Teagasc headquarters in the real estate goldmine of Ballsbridge, Dublin 4 is expected to net up to €11 million. The offices in Cork city, beside the County Hall on the Carrigrohane Road will yield more than 1m.

The property in Clonroche, Co Wexford, consisting of an office block and 70 acres of land and Lullymore, Co Kildare, with 10 acres attached, will also go for high sums on the property market. Land at Kinsealy in Co Dublin may also be sold.

Teagasc is also closing down 10 advisory offices around the country and cutting staff due to the cutbacks.