Joe Costello (Dublin Central, Labour) | Oireachtas source

Will the deputation come to some of the nitty gritty of in the report in terms of the sale of assets and rental income? Mr. Pakey remarked that €5 million was realised following the sale of assets in 2013. Can Mr. Pakey give us some idea of what assets were sold? There is a reference to impaired assets which were not performing as well as assets that were in fact revalued upwards and their associated categories? How does Shannon Development dispose of assets? Are they advertised in the public arena or are they sold within a narrow arena? Is it done internally within Shannon Development? How does Mr. Pakey ensure the company is getting the best market price? What were the proceeds of the sale used for?

I have another question relating to the rental income, which, I note, was €11.1 million. Property expenses amounted to €5 million. Does this mean there was in fact a net figure of approximately €6 million? How many Shannon Development properties are actually generating rental income? Can the deputation give us a breakdown of these properties? Are these all the properties in the revalued sector? Does Shannon Development have a range of properties that are vacant at present or that are not being utilised or that are underutilised? Can Mr. Pakey give us an idea of the occupancy of the various properties and holdings of the company? My questions relate to the ongoing operation in 2013.