Grehan’s D4 site falls in value by €131m

The value of the site of the former Veterinary College in Ballsbridge bought by property developer Ray Grehan for a record-breaking €171 million in 2005, has been written down to just €40million by his company.

15th January, 2011

The value of the site of the former Veterinary College in Ballsbridge bought by property developer Ray Grehan for a record-breaking €171 million in 2005, has been written down to just €40million by his company.

Grehan purchased the 2.02 acre site at €82 million per acre. The writedown is detailed in two years of accounts (2008 and 2009) for Kintene Limited just filed with the Companies Registration Office.

The writedown puts AIB on track to lose at least...

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