The South East Technological University has formally concluded the process of purchasing the former Waterford Crystal site on the Cork Road in Waterford City.
Minister for Further and Higher Education, Research, Innovation and Science, Simon Harris TD, has confirmed that his department has approved the purchase of 20.3 acres of the site.
A formal contract signing will take place at an event in the coming weeks.
The news has been widely welcomed by many, including Waterford Fine Gael Senator John Cummins.
“I am absolutely delighted to finally have this strategically placed site purchase concluded and I understand that a formal signing of the contracts is being organised by SETU in the coming weeks. However, the important message from today is that following due diligence, formal approval has been given for the purchase price which was reached earlier this year with the vendor Mr. Noel Frisby. This is a great day for SETU and I would like to commend all those who have worked on this project, particularly over the last twelve months”.
“I want to thank Mr. Frisby for his willingness to engage in the process and reach agreement with SETU for the benefit of Waterford and the entire region. I know that SETU President Veronica Campbell, Mr. Frisby and the Irish Strategic Investment Fund have very ambitious plans for a University Innovation & Enterprise Quarter which they are looking forward to setting that out in more detail at the formal signing of contracts."
“Not unexpected but really welcome news breaking this morning that the government has completed the acquisition of the Waterford Crystal site for the expansion of the SETU campus in Waterford. A lot of long and tricky political work was needed to get to this point, and I’m delighted to see it over the line", said Waterford Green Party TD Marc O'Cathasaigh.
"The Waterford Crystal site has been a totem in many people’s eyes of Waterford’s fortunes. Many of us remember it in its heyday, a real statement for people approaching our city. In recent years, its dereliction has been a statement of a different kind I’ve pushed hard for the acquisition of this site. I’ve always believed it’s the right place for our university to expand. It keeps it at the very heart of the communities I know it’s proud to serve – Lismore Park, Larchville, Ballybeg – but it also brings it closer now to the city centre. That will strengthen the connection between the students studying in SETU and Waterford City, with both an economic and a cultural benefit to both."
"So, a good day, an important step, but none of us with an interest in developing a top quality university offering in Waterford City will be resting on our laurels, we’ll be pushing on from here.”
A portion of the site will remain in private ownership.
SETU will purchase 20.3 acres of the 37-acre Waterford Crystal site, the entirety of what was offered to SETU.
