The McEvaddy brothers and other property owners are to sell 260 acres of land between runways considered central to the airport’s future
The vendors say the lands are “essential” to the airport’s development. Still, the DAA said the priority should be on new transport links with existing terminals rather than “speculative projects” on the other side of the campus “that aren’t required in the medium term and are devoid of transport links and other necessary airport services”.The McEvaddys and the DAA have previously discussed a potential sale but disagreed on the price.
The vendors insist that puts a potential price of hundreds of millions of euro on their land. But airport sources dismissed the argument, saying highly lucrative car parking would not be allowed on the site and that alternative aviation uses would not sustain a “stratospheric” valuation. “There are limited international opportunities to acquire a single holding of this scale for a potential airport terminal, airport-related uses or logistics in such a high-profile and accessible location,” said manager of the sale John Moran, chief executive of estate agents JLL.
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