Carrisbrook House was acquired by AnCO in 1969 on a 65 year full-repairing lease, commencing on 1st August 1969 and expiring on 31st July 2034. There is no provision for lease breaks on the property and the rent is due for review every seven years. The rent review provisions provide only for equal or greater rent than that being paid in the preceding period.
The Industrial Development Authority acquired the lease from AnCo on 20th October 1976. On 1 January 1994, the leasehold interest transferred to Forfás.
The Industrial Development Authority occupied Carrisbrook House from 1976 until 1985, when the agency relocated to Wilton Park House. I understand that the Youth Employment Agency occupied three floors of Carrisbrook House between 1986 and 1989.
Since 1985, the available offices were sub-let to a number of tenants outside the public sector on a continuous basis until early 2008. The Israeli Embassy is currently the only occupant of the premises, on a sub-lease which expires in 2025.
The total rent per annum paid by Forfás in respect of the vacant space in Carrisbrook House since 2008 has been as follows:
2008: €0.743m
2009: €0.990m
2010: €0.990m
2011: €0.990m
2012: €0.990m
In addition, annual rates and service charges are applicable on the building.
Forfás has been actively seeking to market the vacant space in Carrisbrook House since 2008. The Office of Public Works and Department of Public Expenditure and Reform have also been advised, through my Department and Forfás, of the availability of vacant space in the building. The IDA has also been asked to bring the availability of the accommodation to the attention of prospective clients.
In current market conditions, and despite a number of engagements with potential tenants by Forfás, a letting has not been secured.
