Is this how they are propping up the construction industry?

140m euro offices deal signed
20 hours ago

The Office of Public Works (OPW) has signed a contract worth 140 million euro to build decentralised offices in Portlaoise, Mullingar and Carlow.

The Macquarie Partnership firm will design, build, finance and maintain the buildings which will accommodate 1,500 staff from the Departments of Agriculture, Education and Enterprise, Trade and Employment.

Minister of State with responsibility for decentralisation, Noel Ahern said the 15-year public private partnership, is one of the largest ever undertaken by the OPW. The buildings will comprise 35,000 square metres of office space with car parking. Mr Ahern said that by the end of 2007, public services decentralised from Dublin will be delivered from 34 regional towns.

1500 staff divided in to 140M is 93333.33 Euro per employee. They must be pretty swish offices or will the civil servants end up in legal minimum 8x8 foot square cubicles while the developers pocket the rest.
Property prices can’t be that high in Carlow, Portlaoise and Mullingar?

Does it really matter? They’ll be running out of money to waste once the public cop themselves on and stop literially borrowing like there’s on tomorrow. 1/3 of that instantly goes into the government coffers, which is why they’ve not had to borrow for their recent binges.

Hopefully they’ll not sell the existing space in dublin for cents on the euro, like they normally do.

Sure this kind of thing has been going on for years – big developers leasing office blocks back to the government.

One example is the Dept of Education headquarters on Marlborough Street. The state used to own all this land and is now but a tenant to big business under the auspices of PPP. If I recall correctly, Ben Dunne had something to do with it.