The Government is expected to make more than £50 million from selling the six barracks and lands, in particular from two prime sites in Dublin and Cork.
The most potentially lucrative sale is the 13-acre Clancy Barracks site at Islandbridge in Dublin. One auctioneer said it would depend how it was zoned but if it was to be used for residential property - which is very likely - it could be worth £20 million at a conservative estimate.
The site is on the south side of Dublin and overlooks the River Liffey. On the west side it faces on to the South Circular Road. In recent years, sites along the quays have been developed for luxury apartments and this site with its river view could be developed with apartments and other housing.
The 150-acre Murphy Barracks site in Ballincollig, near Cork city, could net the Government about £10 million. According to auctioneers, the site has great potential. It is directly on the main street in Ballincollig. There are shops on the south side and the barracks is on the north side. It runs between the River Lee and the main street.
One auctioneer said it would lend itself very well to a mixed development, with a main supermarket, shop units, mixed housing and a business park. Around 100 acres could be used as a business park. Ballincollig is a dormitory town for Cork and it would lend itself to such a development with city businesses decentralising.
The 21-acre Fitzgerald Camp at Fermoy, Co Cork would probably be big enough to provide housing, according to local auctioneers. It is on the north side of the town and has quite a nice location. It could also be used as a small industrial park. The site, therefore, could be worth at least £2 million.
There are two sites in Co Kildare where land in recent times has become popular for property development. Magee Barracks in Kildare town is on 48 acres and Devoy Barracks, Naas, is on 22 acres. Both could be developed either for housing or industrial estates and could bring in excess of £5 million each.
Even the smaller plots of land in country areas could bring a sizeable profit. The barracks at Castleblayney in Co Monaghan is on 10 acres. One auctioneer said that if it is zoned as residential it could bring anything up to £36,000 a site and there would be six to 10 sites there.
No auctioneers have yet been appointed as agents to sell the sites. Five sites have to be sold before the end of September and the Dublin site will be sold later.