Ms Katherine Licken:

It is low rent. It is €1 per year for 25 years. When it was Solas as a not-for-profit organisation promoting and delivering this project, it had a 99-year lease. As part of the agreement to hand over the project to Element Pictures, it was reduced to a 30-year lease and after 25 years, it will revert to a commercial lease for the last five years. Again, we have a lien on the property and the ability to take over the project if it is not run as an art house cinema. The company has invested at least €1 million to date in getting the doors to open on the cinema.