Savills has concluded the sale of just under nine acres of land on RTÉ’s Donnybrook campus to Cairn Homes Plc.
Details of the sale were announced to staff this morning by RTÉ Director-General, Dee Forbes, who said the agreed sale price for the land has exceeded the guide price.
Dee commented: “RTÉ is happy to confirm the sale of land on our Donnybrook site. Our decision to sell this land was driven by the fact that, since 2008, RTÉ has been operating with vastly reduced commercial and licence fee income, approximately €100m annually. As a result, we have been under-investing in the organisation for almost a decade, a situation that is unsustainable.
“The funds raised will now be invested in capital projects, including much-needed technology upgrades and key digital infrastructure, and in making important changes to our organisational structure, essential workplace improvements, and reducing debt levels.
“RTÉ is playing catch-up in an industry and market that is evolving rapidly, as Irish audiences embrace new technologies which are influencing how and when they consume content, including RTE content. The investment which has been enabled by this land sale, along with further restructuring of the organisation, will allow us to better serve the needs of our audiences.”