Higher Education
University of Limerick admits it ‘significantly’ overpaid after spending €12m on 20 student houses
University president says independent valuations confirm it paid over market value which will result in €5.2m impairment charge
The University of Limerick (UL) has admitted it paid “significantly above market price” when purchasing 20 houses for student accommodation at a cost of around €12 million, which will mean it ends the year in financial deficit.
Kerstin Mey, UL’s president, told staff on Friday that the university will have to absorb an impairment charge of €5.2 million because an independent valuation has confirmed it overpaid for homes in Rhebogue on the outskirts of the ...
