ACCOUNTS FILED by the Edmund Rice Schools Trust, to which schools formerly owned by the Irish Christian Brothers have been transferred, show a valuation for the properties totalling €94 million.
The accounts, which are for the period to the end of August, 2009, state that the trust has the titles to the school properties, including the school buildings, but that no value has been attributed to the buildings. The brothers are transferring school properties to the trust but not associated playing fields or such land.
However, the schools have the right to the use of such lands as long as the schools remain in operation.
The accounts list the school properties transferred in the period up to the end of August 2009, and their values. The most expensive properties transferred were both in Dublin. CBS Monkstown junior and senior schools, and St Fintan’s, Sutton, were both given values of €7 million. The trust was established in May 2008. The reason for its establishment is outlined in the accounts.
“A number of years ago the congregation of Christian Brothers in Ireland realised that due to declining numbers of personnel it would not be possible to sustain the ethos of Edmund Rice in education in Ireland in the medium term. Hence they set about putting in place the trust to ensure the continuation of education in the Edmund Rice tradition in Ireland.”
Last year, chief executive of the trust Gerry Bennett said properties with an estimated value of €400 million had been transferred to the trust. Mr Bennett could not be contacted at the weekend. The reason for the discrepancy between the accounts and this larger figure is not known, but could be due to the value of the school buildings not being part of the figure in the accounts.
The accounts show expenditure of €1.11 million in schools supports.
The trustees included Mr Justice Peter Kelly (chairman), Daniel O’Hare, Pat Cox and Carmel Naughton. The chairman of the company’s board is Pat Diggins.
School valuations: how much properties are worth
- Ardscoil Chaoimhín, Arklow €650,000
- Ardschoil Rís, Griffith Avenue,
- Dublin €2,750,000
- Bunscoil Iognáid Rís, An Daingeann €500,000
- CBS Thurles secondary €1,500,000
- Charleville Primary €300,000
- Charleville Secondary €270,000
- Clonkeen College €3,600,000
- Coláiste Colm, Swords €5,000,000
- Coláiste Éanna, Ballyroan €4,850,000
- Coláiste Rís, Callan €275,000
- Coláiste Mhichil, secondary €3,000,000
- Deerpark CBS €1,200,000
- Doon Primary €280,000
- Doon Secondary €250,000
- Drimnagh Castle Primary €2,500,000
- Drimnagh Castle Secondary €2,750,000
- Dungarvan Secondary €250,000
- Ennistymon Secondary €200,000
- James St, Secondary €2,550,000
- James St, Primary €2,000,000
- Meánscoil Iognáid Rís, Naas €1,000,000
- Midleton Secondary School €255,000
- Nagle Rice Doneraile€500,000
- Oatlands Secondary €4,700,000
- Rice College Westport €900,000
- Roscommon, St Mary's Abbey €600,000
- Scoil Ailbhe Primary, Thurles €475,000
- Scoil Chiaráin, Collins Avenue,
- Dublin €2,000,000
- Scoil Iognáid Rís, Callan €100,000
- Scoil Iognáid Rís, Kilkenny €525,000
- Scoil Íosagáin, Crumlin €2,850,000
- Scoil Íosagáin, Primary €700,000
- Scoil Mhuire Oatlands, Primary €3,000,000
- Scoil Teresa Naofa, Donore Avenue,
- Dublin €1,200,000
- St Aidans, Whitehall, Dublin €6,000,000
- St Davids, Artane, Dublin €5,000,000
- St Declans, Cabra, Dublin €3,000,000
- St Josephs, Drogheda, Secondary €1,100,000
- St Josephs, Fairview, Primary €2,200,000
- St Kevins, Ballygall, Dublin €2,000,000
- St Marys Academy, Carlow€450,000
- St Munchins Primary, Limerick €2,100,000
- St Vincents, Glasnevin, Primary €2,450,000
- The Green Secondary, Tralee €1,500,000
- Waterpark College, Secondary €750,000