Commercial Rent Reviews

Dáil Éireann Debate, Wednesday - 17 October 2012

Wednesday, 17 October 2012

Ceisteanna (216)

Catherine Murphy

Ceist:

216. Deputy Catherine Murphy asked the Minister for the Environment, Community and Local Government if his attention has been drawn to the fact that the agreed lease on the main premises of An Bord Pleanála at Marlborough Street, Dublin 1, is subject to an upwards only review clause; if he will confirm that a new lease was recently agreed on the premises; if so, if the new lease contains the same upwards only review clause; if he will provide the full financial cost of renting the premises per year since it has been occupied by An Bord Pleanála; and if he will make a statement on the matter. [45369/12]

Freagraí scríofa

Minister of State at the Department of the Environment, Community and Local Government

An Bord Pleanála entered into a 25 year lease on 22 January 2002. The rent during the period up to the first review was €1,108,626. The terms of the lease provide for rent reviews every 5 years . A rent review was carried out and a revised rental of €1,250,000 effective from 22 January 2007 per annum was agreed on 30 October 2008. However, notwithstanding the fact that the terms of the lease provide for upward only rent reviews, a further rent review was due on 22 January 2012 and a verbal agreement was reached between the landlord and the Board that a rent review for that next five year period would not be undertaken. The rent has therefore remained at €1,250,000.

The total rent paid by the Board under the lease to date is set out in the table below.

Year	Amount
2002	€1,108,626
2003	€1,108,626
2004	€1,108,626
2005	€1,108,626
2006	€1,108,626
2007	€1,250,000
2008	€1,250,000
2009	€1,250,000
2010	€1,250,000
2011	€1,250,000
2012	€1,250,000
TOTAL	€13,043,130