GOOGLE has paid €2.2m to the state bad bank Nama for 31 acres of land in west Dublin.
The search giant bought the land from a receiver to a company owned by developer David Agar. The deal was completed on June 29, according to filings for Dasnoc, an Agar company that went into receivership in 2012.
Agar was the developer of Profile Park, a high-tech business park where a number of data centres are located. Google said on August 21 that it had started work on a €150m data centre on the site and bought the extra land to give it flexibility for further expansion.
Dasnoc has €37m in bank debts but wrote down the value of its land banks by more than €31m during the property crash. As well as Profile Park, the company had land at Newtownmountkennedy in Co Wicklow.
Agar’s Profile Properties was a significant developer during the property boom but he lost control of many of his assets to lenders.
Advertisement
Google said construction of the new data centre, its second in Dublin, will employ 400 people.
The first phase of the project should be completed this year.