Loophole may cost state millions

South Wharf, the company that is trying to buy a 25-acre state-owned site in Ringsend, Dublin, which has been valued at €300 million, for a mere €750,000, appears set to secure the property, despite desperate attempts by Dublin Port to stop it.

23rd July, 2005

South Wharf, the company that is trying to buy a 25-acre state-owned site in Ringsend, Dublin, which has been valued at €300 million, for a mere €750,000, appears set to secure the property, despite desperate attempts by Dublin Port to stop it.

The bottling company, formerly known as Ardagh plc and Irish Glass Bottle, has been renting the site for about 30 years. Taking advantage of a previously little-known provision in the Landlord and Tenant...

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