Professor Gerry Boyle:

If one takes Moorepark as an example, we own a core amount of land surrounding the facility. It is programme-driven. We have rented land form Dairygold because we are rolling out a new programme for next generation dairy herd precision farming. We fund that activity from a variety of sources. Much of the time we generate research income that enables us to take on a new programme. That is often the driver. We are very careful about the land we rent. It is a question I ask continually when there a proposal is made. There has been none in recent years. Everything has to be programme-driven. If something makes sense, we will rent. We own most of our offices, but if there is an area where we have an office or think we need one and it makes more sense to rent rather than commit to a new build, we will rent.