Oireachtas Joint and Select Committees

Thursday, 18 July 2013

Public Accounts Committee

2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office

11:20 am

Mr. Declan Lavelle:

We feed all that into the system. It is a question of the volume of evidence we have and the weighting we give to each piece of evidence. As I said, the market is quite sophisticated and we have developed our own in-house analysis systems so we can factor in those various elements, whether it is an upward-only rent review clause, a break clause, tenant's improvements, a fit-out contribution or an up-front premium. There are various inducements that landlords give to tenants. Tenants have all sorts of difficulties in terms of holding over under existing leases. We also have regard to abatements of rent. We try to get as complete and comprehensive-----