Over 450 acres of land in the South Eastern Health Board region could be sold off within the next year under proposals being submitted to the Department of Health.
The health board has identified 457 acres of land surplus to requirements in the region, the sale of which could net between €49.5 million and €49.90 million, according to auctioneering estimates.
At current market prices, the property could fetch between €10,000 and €500,000 per acre depending on location, planning, development potential and zoning.
An acre of farm land in the south-east currently demands in the region of €10,000 to €20,000. This figure massively increases when it comes to development land, with prime property in Kilkenny, Enniscorthy and Waterford selling for between €200,000 and €500,000 per acre.
The proposed disposal of lands was agreed in principle at a board meeting in January this year. However, under the terms of the Health Amendment Act, which came into force in June, all purchases and disposal of property must now be approved by the Minister for Health and Children.
The SEHB is currently finalising its list of potential disposals, which will be sent to the Department of Health by the end of August.
Pending the Minister's approval, the disposal of the property could occur within the next six to 12 months and it is envisaged that monies generated from the sale will be pumped back into health services in the region.
The lands identified by the SEHB occupy urban and rural sites and are located at St John's Enniscorthy, St Otteran's Hospital in Waterford, St Canice's Hospital in Kilkenny city, Kelvin Grove in Carlow and St Luke's Hospital, Clonmel.
Further "non urban" sites are located at St Senan's Hospital, Enniscorthy, Heywood Farm, Clonmel, Knockmarshal Cross and Red Pat's Cross in Enniscorthy.
According to a spokeswoman, the SEHB has not received notification from the Department of Health that any land is being sold "prior to the information being gathered and forwarded" to the Minister.
She added that the value of the land would be extremely difficult to gauge due to regional variations.
The proposed disposal of surplus lands by the SEHB follows the Government's confirmed sale of 200 acres attached to 14 psychiatric hospitals nationwide.
A Department of Health spokesperson said yesterday that no timeframe has been set for health boards to submit lands for potential disposal and that any possible sale would only proceed once specific areas are pinpointed.