Brian O'Shea
Question:139 Mr. O'Shea asked the Minister for Education and Science the details, including a map, of the acquisition of land by Waterford Institute of Technology at Carriganore; and if he will make a statement on the matter. [4738/99]
Written Answers. - Institutes of Education.
Waterford Institute of Technology's initial proposal in this regard indicated that the existing campus lands were inadequate for future developments and particularly for outdoor student recreational facilities. The previous total land bank amounted to approximately 37 acres, with the main Cork Road campus consisting of 29 acres. This is considered inadequate for the institutes overall development.
In the circumstances, on 5 June 1998, I gave the go-ahead for the acquisition of an additional 50 acres of lands by the institute. As the vendor was prepared to sell 170 acres of the property as a single lot only, I allowed the institute, as an exceptional matter, to acquire the entire lot subject to a feasibility study being undertaken of the 170 acre site to identify the 50 acres of lands to be retained; moneys received from the disposal of surplus lands being refunded to the Exchequer; freehold title to the lands being confirmed and full vacant possession being obtained.
The total purchase price of the lands amounted to £2.45 million. The valuation office considered in July 1998 that the then current market value of the property was in the region of £2.5 million. A deposit of £250,000 was paid in June 1998, a further £1,035,000 in December 1998, and the balance of £1,170,000 is to be paid on completion of conveyancing.
The institute has agreed, for security and other reasons, that the property be handed over on a phased basis. The residence and 42 acres of adjoining lands are to be handed over immediately, and the vendors will remain in occupation of the balance under a license agreement granted by the institute for a specified period.
Development proposals for these lands are dependent on the approval of the development plan for the main campus which is at present being examined in my Department; the findings of the feasibility study on the lands at Carrig- anore to establish the area most appropriate for meeting the institutes space requirements; the outcome of planning applications to the local authority for possible developments on the main site and these lands and also the results of the Department's normal economic studies relating to both developments to ensure that value for money will be achieved.
The present position is that my Department is awaiting the submission of the feasibility study by the institute.
I have arranged for my Department to forward two maps to the Deputy. One shows the location of the property in relation to the city and county, and the other is an outline of the property itself.