Oireachtas Joint and Select Committees

Wednesday, 10 December 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Operations and Functions: Office of Public Works

3:20 pm

Ms Clare McGrath:

We have renegotiated leases and I will revert to the committee on the savings we have achieved through this process. When rent reviews occur, even if they are upward-only rent reviews, we seek to leverage the State's covenant across a range of properties because we deal with landlords in the round. For example, accommodation may be up for review in one area, but we may have a lease with the same landlord elsewhere; therefore, we deal with them based on the value of the State's covenant. Renegotiation is challenging and not always successful, but it is a route we take. I will revert to the committee on the rent roll savings attributable to renegotiation.