Under the Industrial Development Acts the management of IDA Ireland’s property portfolio, including the leasing and rental of business units, is a day to day operational matter for the agency and is not one in which I have a function. I am informed by IDA Ireland that in 1983 the Agency entered into a 35 year lease arrangement on 6 units, each approximately 300 square metres, in Newbridge, Co Kildare. At present, one of those units is leased out by IDA and the other 5 are available for marketing. I am informed that the rent invoiced by IDA for this unit is €24,549.13 per annum while the annual cost of security and electricity equates to roughly €12,000 per annum. I understand from the Agency that it markets the available units through a national website portal, www.daft.ie, and appointed local estate agents.
IDA Ireland has stated that it would consider opportunities to utilise its non-core property portfolio to attract other non-traditional type investments into a region for investments which don’t fall under the general remit of IDA or Enterprise Ireland but which could create investment and employment opportunities. The available units in Newbridge are being marketed in this context.