UL spends €1.34m on fallout from controversial €12.5m housing deal
Gordon Deegan
The University of Limerick (UL) has incurred costs of €1.339 million over the past two years arising from the fallout of the university's contentious purchase of 20 houses at Rhebogue, Co Limerick.
Figures contained in UL’s 2025 annual report show the €1.339 million cost includes UL spending €200,000 on a ‘forensic review’ in the 12 months to the end of September last.
Asked about the money spent on the forensic review, a spokeswoman for UL said: “UL engaged external advisors, Deloitte, to conduct a review on matters relating to the conclusion of the 2023 financial statements which related to the Rhebogue transaction.”
The university paid €12.5 million for the houses in 2022, and the deal was subsequently criticised by the Comptroller and Auditor General as a €5.2 million overspend.
Along with the forensic review, the annual report discloses that an additional €659,000 has been incurred on legal services associated with senior management staff.
The €659,000 was made up of a spend of €226,000 in 2025 and €433,000 under the same heading in 2024.
The UL spokeswoman said the €659,000 spend “relates to legal and senior counsel advice on senior management roles connected to the Rhebogue transaction”.
The Rhebogue purchase also contributed to the Higher Education Authority (HEA) requesting a review into governance at UL, and in the prior 2024/23 financial year, the Section 64 HEA Review cost UL €480,000.
Last year, An Coimisiún Pleanála found that the use of the 20 Rhebogue houses as student housing is development and not exempt development.
A note attached to the accounts states that the university "acknowledges this decision, which will necessitate either a change to residential dwelling houses or an application for retention of the change of use to student accommodation".
The note states that UL performed a value-in-use assessment of the 20 houses on September 30th, 2025, and this estimated the value in use at €7.549 million.
The annual report shows that the university’s pre-tax surplus increased by 13.5 per cent to €14.16 million as UL's income increased by 8 per cent from €392.5 million to €422.6 million in the 12 months to the end of September last.
In his report, acting UL president Professor Shane Kilcommins said that “our financial position remains robust, and our community continues to deliver outstanding achievements across research, teaching, and engagement”.
Kilcommins said that “this year has been one of transformation and achievement. From governance reform to global partnerships, from widening participation to pioneering programmes, University of Limerick has demonstrated resilience and ambition”.
The report records the total salary paid to Kilcommins during the reporting from the year was €259,925, which includes the value of a taxable benefit relating to residing in the president's residence.
