UNIVERSITY of Limerick President Kerstin May says it is still too early to discuss the findings of an expert report into the university’s purchase of the former Dunnes Stores site at the heart of the city.
The buying of the site on Sarsfield Street raised questions when it was revealed that there was no written independent valuation of the property, which is intended for use to expand the university campus into the city itself.
It was bought for €8 million in 2019, having been valued at €3 million just two years earlier.
The Higher Education Authority has withheld €1.69 million in funding from UL pending a review of governance.
Professor Mey has confirmed that the university has now received and is reviewing an independent report into the purchase of the site.
The university asked consultants KPMG to investigate the purchase, as it confirmed there is no record of any written independent valuation of the site.
The UL President said the university authority must now study the contents of the report before commenting.
