John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

Yes, but from the point of view of purchasing, did the OPW have any comment on it? I am interested in this issue because the last time the OPW appeared before this committee, its representatives very quickly referred the problem to Forfás. In my opinion, the OPW manages the property for the State and should have had some sort of input into the consideration being given to the disposal of the property that ended up being disposed of for €16 million. It should have done so to save the State from losing €1.2 million on a seven-story property with just a single floor occupied and from possibly continuing to lose on that property until 2034. The State is locked into a lease with an upward-only rent review until 2034 and has missed the boat in respect of reducing its exposure when the aforementioned property was sold for €16 million. Between the present and 2034, should the property not be occupied or should matters continue as they are, the State will lose double the amount for which it could have bought the property in 2008. This raises a number of serious questions about the State's ability to manage its property.

I am not laying this at Mr. Shanahan's door, as the OPW has a highly significant role to play in this regard. I am astonished it was unable to or did not wish to answer the question the last day it appeared before the committee and that members find today there was no significant progress on the consideration of purchasing that property when it sold for €16 million. It appears to be the case that the OPW simply continued on to blindly ignore the fact the State was losing €1.2 million per year and will continue to lose it and perhaps more, unless the properties can be rented out and I note Forfás is having difficulties in this regard. I ask the witnesses to submit a full report to the Committee of Public Accounts outlining what has happened since 1969 regarding the landlords, the costs and so on in order that members can explore properly how much has been lost to the State from 1969 and perhaps forecast up to 2034, because I reiterate this raises serious questions in respect of property management. I ask Forfás to work with the OPW in this regard. At least the highlighting of this issue and the obligation to make a report to the Committee of Public Accounts might cause the OPW to get off its hands and do something in respect of that property.