GMIT still interested in purchasing Corrib Great Southern Site

Galway Bay fm newsroom – GMIT has expressed its continuing interest in purchasing the site of the Corrib Great Southern Hotel.
The Hotel, which closed in 2007, was sold to Galway-born brothers Luke and Brian Comer for just over €3.5 million in May of last year.
The figure was a fraction of the €30 million believed to have been paid for the hotel by developer Gerry Barrett in 2006.
GMIT says it’s interested in the site for development to meet expected demand of future students – but the asking price is ‘substanially’ above their bid of €3.75 million.
Speaking on Galway Talks, Secretary and Financial Controller of GMIT Jim Fennell says that they can’t afford to pay above market value for the site.