CIÉ turns down €3 million facilitation fee from bidder

Bidding company Balark Investments is linked to Pat Crean’s New Generation homes

12th February, 2017
Balark Investments, is linked to Pat Crean’s New Generation homes

The underbidder for a €45 million development site in the Dublin docklands offered cash-strapped CIE a €3 million “facilitation fee” to back its bid for the Spencer Dock site, which is next to the Dublin Convention Centre.

CIE was seen by some in the bidding process as kingmaker, as it holds a freehold lease over the lands, which were being sold by receivers and liquidators of the original developer acting on behalf of...

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