I thank the Chair for affording me the opportunity to raise this issue. I refer to the decision taken by the Minister to sanction the disposal of 53 acres of Teagasc land at Kinsealy, County Dublin. I have always opposed the disposal of this land and property as its location close to the heartland of the horticultural industry in North County Dublin is invaluable. If the Government were really serious regarding the future development of the horticultural industry and conscious of its employment potential, this land would be retained and fully utilised by the State.
On Thursday last, 7 May, I asked the Minister if he had satisfied himself that the highest tender received was sufficient to ensure an adequate return to the State. In his reply he stated that there was no reserve price on the land or property and that he was satisfied that the acceptance of the highest tender would provide the best return to the State at present. I ask the Minister to clarify the situation as the dogs in the street seem to know who the purchaser is and what he paid for the property. I would be very happy to hear that this is not correct, particularly as the price mentioned is totally inadequate and if the property was sold at this price it would be an utter scandal.
From the information available to me I understand that a tender price of £237,000 has been accepted for a detached period residence on 53 acres of probably the best kept land in north County Dublin. It should be noted also that a particular feature of the Georgian residence is a marble fireplace, which is very valuable. If we exclude the Georgian residence, the sale price represents a price of £4,500 an acre. The sale of land at this price per acre is a scandal and I call for an immediate investigation into the deal.
I acknowledge that the Teagasc land is zoned for agricultural purposes at present. However, it is located within seven miles of the city centre and some two miles from the popular suburbs of Malahide and Portmarnock, which makes this a most attractive proposition. In 1989 some 6.55 acres of adjoining land owned by Teagasc was disposed of by Teagasc for approximately £120,000 which works out at approximately £18,000 per acre.
I am aware that private sites in the immediate area are being sold for £70,000-£80,000 or more. This is a clear indication of the potential of this land. Given that the land is serviced by a main sewage scheme, the sale of just four sites on this land would show an immediate return to the purchaser and he still would have approximately 50 acres of land and a period residence. I must ask the Minister if he knows who the purchaser is, the purchaser's interest in the land and if there is a political dimension to the sale of this land. There is a demand at present throughout north County Dublin for land that is suitable for a golf course. The going rate for agricultural land that can be used for this purpose is between £8,000 and £9,000 per acre.
From the facts that I have outlined it is clearly obvious that the State has not secured an adequate return for this land. I believe also that the Minister has a case to answer if he approved the sale of this land at such a scandalously low price. I look forward to hearing the Minister's comments on this matter.
