Galway Bay fm newsroom - It's been revealed that Na Mine Airport in Connemara - recently purchased by the state for €2.7m - was valued at just €600 thousand.
The figure was published in a report commissioned by the Government itself a number of months before the multi-million euro purchase.
Last month, Na Mine Airport in Connemara was purchased by the state in a multi million euro deal.
Negotiations had been ongoing for some time for the State to buy the facility as part of a longer-term plan to provide an air service to the Aran Islands.
However, according to the Irish Daily Mail, a report commissioned by the state prior to the purchase found it was worth just a quarter of the purchase price.
The report described a series of weaknesses.
These include a small and decreasing customer base on the Aran Islands; the airport being of limited potential beyond current use; and wildlife directives possibly preventing further expansion.
The report - issued ten months before the airport was purchased for €2.7m - ultimately valued the facility at €600 thousand.
However, it was noted that the valuation was complicated due to the 'unusual nature' of the property and difficulty in finding a comparison for it.
It also said the airport did have strengths as the only airport linking the Aran Islands to the mainland and there was a 'strong tourist demand', as well as potentially alternative uses for the building.
In response, the Department of Culture, Heritage and the Gaeltacht defended the purchase price of the airport.
It said a second report had indicated that it would cost almost €8m to build a new, similar airport on the islands with the potential for further costs.
It adds that the initial valuation of €600 thousand did not give any consideration to this cost.
