Three co-owners of 105-hectare landbank pushing ahead with another bidder in effort to realise €210m for property
The DAA has serious concerns as a public body about the risk overpaying for farmland with no planning approval, even though it is zoned for airport use.
As interest rates rise, all bidders face steep repayments on any loans to fund the purchase of airport lands that are unlikely to yield any financial return for many years. Senior airport figures believe such considerations may constrain rival bidders. However, the value and certainty of the offer from the other unnamed party remain unclear.The DAA also has the option of pursuing a compulsory purchase order, deploying sweeping powers to buy the land without owners’ consent if it is deemed to be needed for public infrastructure in the common good.
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