The owners of key lands at Dublin Airport are ready to do business with whoever wants to build a 'proper' third terminal at the site.

Businessman Ulick McEvaddy and his brother have confirmed their plans to sell lands seen as critical for any expansion of the country's largest airport.

The plot of over 200 acres has been owned by a company called 'Dublin Airport Terminal 3 Ltd' for the past 27 years.

Mr McEvaddy, who is a director of the company, told The Pat Kenny Show they are bowing out of trying to build a terminal themselves.

"We're actually, after three decades almost trying to build an independent terminal, we're saying, 'We have to throw in the towel'" he said.

"I was 70 on my last birthday, and my brother's only a year behind me".

Mr McEvaddy said their vision was always to build "a proper terminal that would actually serve the people properly, so it wouldn't have chaos like we had previously".

Passengers make their way to departure gates at Dublin Airport in July 2018. Picture by: Stephen Barnes/Netherlands / Alamy Stock Photo

He said airport operator DAA put in a submission for growth which included their land.

"In 2018, Oxford Economics recommended this site, it's a greenfield site, that was the most economic to develop,” he said.

"Subsequent to that, they put in their submission to the Commission for Aviation Regulation to go from 32 million [passengers] - which is the present cap for Terminals 1 and 2 - to 40 million to 55 million.

"They put all of the terminal development on our land.

"We didn't bother saying to the Commission for Aviation Regulation, 'They don't own this land' - we just left it".

'We believe in good infrastructure'

Mr McEvaddy said they want what is best for the country.

"We're not going to be extortionists; the national interest [is what] we've always been about,” he said.

"We're infrastructure people, we believe in good infrastructure.

"We've seen good infrastructure around the world and what's in Dublin is inadequate for the future.

"So yes, we would do business with the DAA, or somebody else who wants to build a proper terminal there.

"All that land is agricultural land right now, in agricultural use, and it's a greenfield site for a proper Terminal 3".

'People with vision'

Mr McEvaddy said adding to the existing terminals is "a sticking plaster job."

"What they need to do is build a motorway from the M2 into the centre of the site, building T3 at the end of that motorway - opening up four kilometres for development on either side of the motorway.

"It's a huge development, and people with vision will see that as the ideal opportunity to expand us to 17 million passengers per annum".

Ryanair boss Michael O'Leary during a press conference in Dublin in September 2017. Picture by: Niall Carson/PA Archive/PA Images

Asked if Ryanair CEO Michael O'Leary might have an interest, Mr McEvaddy said he is doubtful.

"I doubt if O'Leary would be interested," he said.

"He's always looking for, I mean, a cattle shed is what he asked me to build for him years ago.

"He's doing all the right things, but I don't know if he wants a terminal - especially if it's going to cost him twice what he's paying in passenger service charges today".

Mr McEvaddy said this sale will be advertised globally.

"It'll be in the Financial Times next week, it'll on the wire all over the world.

"There's a lot of interest in this from wealth funds, venture capital funds - things like that," he added.

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Main image: Split-screen image shows a sign for Terminal 3 at Singapore Changi Airport, and Ulick McEvaddy on the grounds beside Dublin Airport in 2003