University of Limerick paid €5.2m above market price for student housing
President Kerstin Mey expresses ‘regret’ over deal to buy 20 houses
Professor Kerstin Mey said there is 'frustration and anger' over the deal. Photo: Don Moloney
The University of Limerick (UL) has lost €5.2m over its controversial purchase of 20 houses, just six months after the deal was completed.
A review of the deal shows UL’s €11.44m valuation of the homes was inflated and did not represent good value. UL should have expected to pay about €6.24m.
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