Agency paid €1.5m for head office – twice its value

SCANDAL-HIT agency Fás paid twice as much for a new head office than a property consultant’s value, the Comptroller and Auditor General (C&AG) revealed today.

In separate deals, the C&AG found the Office of Public Works (OPW) bought six decentralisation sites for €6.9 million more than advisers had recommended.

The planned Fás headquarters in Birr, Co Offaly, ultimately cost €1.5m despite consultants warning in August 2004 that the 5.59 acre site was only worth €700,000.