University of Limerick pays 'significantly above market price' for student accommodation

The university overpaid more than €5m in a transaction for 20 student houses in Rhebogue

President of the University of Limerick Kerstin Mey wrote to staff on Friday to confirm the overpayment. File Picture: Sean Curtin

The President of University of Limerick (UL) has admitted the college paid “significantly above market price” for student accommodation, to the tune of over €5m.

In a letter to staff on Friday, Professor Kerstin Mey said it was a “matter for regret” for her as President and a “major concern for the University in terms of management, governance and reputation”.