Tuesday, 23 July 2019

Questions (325)

Louise O'Reilly

Question:

325. Deputy Louise O'Reilly asked the Minister for Education and Skills the cost of the contract for the public private partnership for the development of the Technological University of Dublin being built on the grounds of St. Brendan’s Hospital, Grangegorman. [33313/19]

View answer

Written answers (Question to Education)

The construction cost of the Central Quad and East Quad being delivered under a Public Private Partnership (PPP) in Grangegorman totals approximately €220m ex VAT. This delivers some 52,000m2 of core academic space for TU Dublin and will accommodate some 10,000 students.

As for all education sector PPPs, the construction cost is reimbursed as part of Unitary Charge payments which commence once construction has been completed and continue over a 25 year period.  Unitary Charge payments also cover the cost of operation and maintenance of the buildings, lifecycle requirements and the cost of finance.

Financial projections for all PPP projects are published on the website of the Department of Public Expenditure and Reform once contracts have been signed.  The annual Unitary Charge payment for the Grangegorman Quads will be in the region of €19.4 million ex VAT, with a portion indexed annually.  42% of this will be funded by TU Dublin through its own sources, including via efficiency savings generated by the consolidation of its activities at Grangegorman.