Property

University of Limerick to appear before Dáil committee after €12m housing blunder

UL admitted to paying “significantly above market price” for 20 student homes last week

Kerstin Mey, UL’s president, said that the university will have to absorb an impairment charge of €5.2 million after overspending on the properties. Picture: Sean Curtin

The University of Limerick (UL) will appear before the Public Accounts Committee next month after once again admitting to significantly overspending on property, the chair of the group has said.

Speaking after the Business Post revealed that the university will end its year in a deficit after paying €12 million for the purchase of 20 homes to house students, Brian Stanley said that UL has still not learned from previous experiences of financial oversight.

The ...