Monday May 25, 2020

RTÉ in land sell-off to "reshape" struggling broadcaster

Sale of Donnybrook site source of much-needed funding, says DG

26th January, 2017
RTÉ under financial pressure. Pic:

RTÉ will sell a portion of its land in Dublin 4 in the first half of 2017, the broadcaster revealed today.

The land is being sold is on its Donnybrook site west of the Radio Centre. Savills have been appointed to manage the sale, following a public procurement process.

The decision to sell was taken today at a board meeting. In a mail to staff, RTÉ Director General Dee Forbes said that RTÉ had been giving serious consideration to the best options for the redevelopment of the Donnybrook campus for some time.

Forbes said: "While the exact timings around the sales process and final details of the land to be sold are still being finalised and are commercially sensitive as you can appreciate, I am now pleased to confirm to you our intention to sell in the first half of 2017."

The sale of the land will not solve all of RTE’s financial challenges, she said, but it will provide the organisation with the “means to reshape and reinvest in the organisation and, together with the 5-year strategy that is in development, will enable us to continue to meet the changing needs of audiences".

Due to commercial sensitivities around the sales process, she said she was unable to share further details with staff, but will do so in due course.

“RTÉ’s financial position has been challenging for some time, with the result that we have had to curtail any significant investment in infrastructure, technology and other organisational changes.

"This is no longer sustainable. A series of independent reports have also indicated that the sale of underutilised land on our Donnybrook site represents a valuable source of much-needed funding for investment," she said.

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