Site worth two-thirds of the €17.2m-per-acre consortium paid for it, committee told

THE Dublin Docklands Development Authority (DDDA) and Anglo Irish Bank will meet next week to decide how much taxpayers will lose because of a €411 million speculative investment.

The DDDA owns a 26% stake in the former Irish Glass Bottle site in Poolbeg and is part of a consortium which still owes €293m to Anglo.

The authority’s chief executive Paul Maloney said the site is now worth less than two-thirds of the €17.2m-per-acre which the Becbay consortium paid for it.