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IDA Portfolio

Dáil Éireann Debate, Wednesday - 15 January 2014

Wednesday, 15 January 2014

Questions (298)

Jack Wall

Question:

298. Deputy Jack Wall asked the Minister for Jobs, Enterprise and Innovation if any of the business units under the remit of the Industrial Development Authority in Newbridge, County Kildare have been leased in the past year; the rental income from these units for each of the past three years; the maintenance cost to his Department or its State agency for these buildings over the same period; the position of the contract or agreement in regard to the lease of the stated buildings as to its tenure; and if he will make a statement on the matter. [1025/14]

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Written answers

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.

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