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Office of Public Works

Dáil Éireann Debate, Tuesday - 15 February 2022

Tuesday, 15 February 2022

Questions (313)

Mairéad Farrell

Question:

313. Deputy Mairéad Farrell asked the Minister for Public Expenditure and Reform further to Parliamentary Question No. 272 of 8 February 2022, the way the value and price is reflected in the moving of these assets between the accounts of two public bodies for those properties identified for intra state transfer; if money changes hands; and if he will make a statement on the matter. [8213/22]

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Written answers

The OPW disposes of surplus property assets in line with DPER Circular 11/2015: Protocols for the Transfer and Sharing of State Property Assets and Circular 17/2016: Policy for Acquisitions and for Disposals of Surplus Property.

Once a decision is made to sell a property to another State body, an independent, non-negotiable property valuation is carried out by the Valuation Office. The valuation represents the assessment of the market value of the property.

When the legalities of the sale is complete, the property disposal is recorded on the OPW’s Appropriation Account and as an acquisition on the recipient State body’s account, at the agreed valuation. The full amount of the agreed disposal value is transferred to the OPW by the State body on signing and sealing of the relevant legal documents.

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