The €23 million that it cost the government to buy a former greyhound stadium in Dublin was almost twice the value placed on it by consultants acting for its owners, The Times can reveal.

The Department of Education bought the land at Harold’s Cross last year from the Irish Greyhound Board (IGB) to build much-needed schools in an area of Dublin with a growing young population.

The department agreed to pay €23 million, but records obtained by a freedom of information request show that Savills, the estate agents working for the greyhound board, had valued the land at €12 million if it was going to be used for housing and €6 million without any change to its zoning status as land for recreational amenities. Land