Mr. Philip L'Estrange:

Previous to 2011 they were two separate bodies. We immediately set about consolidating the two bodies. The real savings were made in us no longer needing two IT systems or overheads in two buildings such as security costs, insurance and so on. The savings realised from consolidating the two bodies was €440,000 per year. That greatly outweighed the difference with the €80,000, which was the subsequent market rent we got, and we were able to give that to the National Council for Curriculum and Assessment. Overall, we did not have much choice. We inherited the lease, but the best economic way forward was to amalgamate the two buildings and then sublet it at the best market rent we could get at the time around 2013.

The lease expires in 2024 along with the other leases in the authority. We expect that the whole situation will be completely resolved in three to four years.