Vol. 399 No. 3
58 Mr. Gilmore asked the Minister for Finance if he will outline (a) when the State first obtained a lease on Teach Earlsfort (b) the annual rent (c) the amount of rent paid to date (d) the amount of compensation paid to disengage from the lease and (e) with whom the lease was made; and if he will make a statement on the matter.
The Commissioners of Public Works leased these premises in 1973 from MEPC Ireland Ltd. for a term of 34 years with the rent subject to review in 1980, 1987 and every five years thereafter. The landlords interest was conveyed in 1975 to Royal Insurance Company Limited and, in 1986, ownership of the property passed to IBI Nominees Ltd.
On the question of rent and compensation, it is not the practice to divulge details of commercial transactions with companies in the private sector but I am satisfied that the terms on which the leasehold was terminated are satisfactory.
