RTÉ to consider Montrose land sale

RTÉ management is due to make a decision in the next few months over the potential sale of some or all of its valuable Montrose campus.

In the station’s soon-to-be published Statement of Strategy 2015-2019, RTÉ said decisions regarding the future of its property assets would be made early in the period covered by the document.

Over the past year, the State broadcaster has been examining ways of raising additional sources of funding in response to seeing its annual revenue fall by 26% since the start of the economic downturn.

Overall income at Montrose decreased by €113m since 2008 to €328m last year.

A number of recent independent reviews also warned RTÉ was likely to continue to lose market share over the next four to six years. They also concluded the station was being run efficiently but there was limited scope for further cost reductions.

The NewEra report commissioned by Communications Minister Alex White said RTÉ should consider the sale of the Montrose site as 40% of the site was either underdeveloped or used as a car park.

The sale of some or all of its landbank in the heart of Dublin 4, where property commands some of the highest prices in the country, could realise a major windfall for RTÉ. Property experts estimated last year the 30-acre site could realise in excess of €300m.