An Office of Public Works (OPW) property at Lad Lane, Dublin 2, is to be sold by the Government in the first of a series of sales that could net the State hundreds of millions of euros.
The building, which houses the building maintenance service for the OPW, consists of a one acre site at the back of Baggot Street in Dublin's city centre, and is expected to sell for up €15 million.
Details of the sales were announced by the Minister of State at the Department of Finance, Mr Tom Parlon, this morning.
The sale of state assets, according to Mr Parlon, is the first in an ongoing programme that will transform the state property portfolio. It will include a straight sell-off of Government-owned sites to public-private partnerships, joint ventures, or land-swap deals.
The Department of Finance began an audit of the State's property last November that is ongoing. Although no exact figure on the value of that property is available, it is understood it could run to the hundreds of millions of euros.
The proceeds of the OPW sale is to be invested in four key areas - the Educational Psychology Service, the purchase of lease-hold properties occupied by State bodies, the purchase of sites for the Garda building programme, and funding to renovate Garda stations around the State.