Co-owner of land at Dublin Airport open to sale, daa refuses to pay 'crazy prices'

Claudia Savage, PA

A co-owner of a plot of land positioned between the two runways at Dublin Airport has said he would sell the land to an investment fund interested in building a private terminal.

Ulick McEvaddy told RTÉ he had received “potential interest from around the world from venture capital funds and from pension funds”, in relation to the land.

The daa, which manages Dublin Airport, offered €75 million to buy the 261-acre plot that lies between two runways.

Mr McEvaddy rejected the offer, saying he wanted to receive “market price” for the land, and had received offers in excess of €205 million.

He described the daa offer as “derisory”.

“For a strategic land bank, I mean they paid €1.7 million an acre for the car park, which is not strategic. Okay it’s income earning, but it’s not strategic for the future Dublin Airport. These lands are vital for the expansion of the airport,” he said.

Mr McEvaddy said a potential private buyer could go to court to gain permission to use Dublin Airport runways via a private terminal built on the land.

“Some of the buyers, the potential buyers want…to gain access to the runways and infrastructure at the airport, which we’re entitled to, by the way, under the law,” he said.

He added: “Venture capital funds have been onto us on a regular basis trying to get to invested in a terminal. Terminals are very, for pension funds, they’re very solid. A Canadian pension fund bought London City Airport and 90 per cent, 95 per cent of most European airports are privately owned now,” he said.

Mr McEvaddy further stated that he would be willing to take such a case to court on behalf of a new owner of the plot because of his “history” with the daa.

“It’s not our desired route, just have to say, our desired route was that the daa would own these lands, and have the vision to do what is necessary for the expansion of Dublin Airport,” he said.

“Dublin Airport could be the pre-eminent hub in Europe providing hydrogen for the future, providing power for the future and it’s uncongested airspace.”

A spokesperson for the daa said the organisation would not pay “crazy prices” for the plot.

“Daa is still interested in buying the land and our offer remains on the table at a realistic valuation. Daa has made a sensible commercial offer but won’t pay crazy prices,” they said.