This article first appeared on Galway Bay FM

The controversial new home for Galway City Council has plummeted in value.

The latest valuations revealed to councillors today show it was worth €36m in early 2022 – but now it’s only valued at €28 or 29 million.

This latest valuation will likely only add fuel to the fire amid long-running accusations over the alleged rushed and secretive nature of the move.

It was carried out by Avison Young and Power Property notes the decline reflects wider trends in the commercial property market.

Despite the drop, Galway City Council says it’s confident Crown Square remains the most cost-effective solution for its new offices.

The new building was purchased in 2022, but with an extensive fit-out still not started, it’ll be next year at the earliest before the move is completed, if not 2027.