Unused refugee centre cost taxpayer over €2m

So you thought property prices were increasing? Not, it seems, when it comes to State assets:

The Department of Justice bought Lynch’s Lodge Hotel in Macroom, Co Cork, in October 2000 to use as a refugee accommodation centre for over €3.5 million.

Five years later, with security and other costs at over €800,000, the property was sold for €2.3 million.

The information came from a parliamentary answer given by Minister of State with responsibility for the Office of Public Works Tom Parlon.