Dáil Éireann Debate, Thursday - 26 January 2017
55. Deputy John Brady asked the Minister for Finance the number of vacant NAMA commercial buildings in the State with a county breakdown as well as the length of time each building has been vacant; and if he will make a statement on the matter. [3559/17]
Amharc ar fhreagraI am advised by NAMA that its debtors and receivers control 14 commercial office properties which are currently vacant. The properties concerned are either on the market for sale or are in the planning system with a view to increasing their ultimate disposal value. I am advised that two of the 14 office properties have been vacant for less than three months, five have been vacant for a period of between three and twelve months and the other seven have been vacant for longer than twelve months.
The Deputy will be aware that commercial properties, by their nature, are subject to voids on a regular basis. For instance, one or more floors of an office building may be vacant for a period between tenancies. Likewise, units in shopping centres are subject to frictional vacancy as certain businesses cease and others replace them. In addition, some buildings become obsolete and can no longer be occupied due to safety reasons. The day-to-day management of the commercial properties concerned is a matter for debtors and receivers. However, as the Deputy will be aware, it is NAMA's policy to ensure all vacant properties that are fit for purpose and meet the required safety standards are occupied and income-producing, and in many instances this involves NAMA providing funding to complete partially finished properties to ensure they are available to potential purchasers or tenants as soon as practicable.
The breakdown sought by the Deputy is set out in the following table.
Temporarily vacant NAMA-related commercial office property, by County
|
County |
Total |
|
Cork |
1 |
|
Dublin |
8 |
|
Galway |
3 |
|
Waterford |
1 |
|
Wexford |
1 |
|
Total |
14 |
