Vol. 459 No. 8
65 Mr. N. Ahern asked the Minister for Finance the current position regarding the agreement to sell and lease land on Shanowen Road, Santry, Dublin 9; the reason for the delay and legal problems involved; the person responsible for the delay; if the sale price is index-linked; and the estimated rental-lease revenue that has been lost due to the delay based on the rent previously received. [19063/95]
The delay in completing the sale and lease of separate parts of this property is due to the fact that these transactions cannot be completed until the title of the Commissioners of Public Works to the property has been registered in the Land Registry. A counsel's certificate of title is an essential prerequisite to this application for registration, and counsel has recently been furnished by the Chief State Solicitor with the results of research which was deemed necessary by counsel before the required certificate could be furnished. On receipt of the certificate, the Chief State Solicitor will apply for registration of the commissioners' title. It is the intention of the Chief State Solicitor, when the application for registration has been lodged in the Land Registry and a Land Registry dealing number is available, to furnish a contract for sale to the purchaser's solicitors. The terms of a draft lease for the remainder of the property are the subject of correspondence between the Chief State Solicitor and the lessee's solicitor.
The agreement for the sale of part of the property contains no provision for the price to be index-linked. No loss of revenue is envisaged as a result of the delay in this case. As I indicated to the Deputy on 29 June 1995 in reply to Question No. 49, the portion of the property on sale is occupied by the party to which a sale has been agreed and payment in respect of this occupation will be settled in the context of closing the sale. The agreed terms of the lease for the remainder of the property provide for specific payments on the commencement date of the lease and the first four anniversaries of that date, and for payment of a nominal rent for the remainder of the duration of the lease.
