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Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: Then why is it commercial?

Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: They probably had profits at some point or are operating at losses and increasing losses.

Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: I thank the officials.

Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: I have a few fairly straightforward questions. We identified that the cost of the average unit in Shanganagh Castle is €409,000. The average cost of those purchased from Cairn Homes in Citywest is €435,000. What is the price per square metre for each such purchase? Can Mr. Coleman deal with Shanganagh first because I have it arranged that way in my notes?

Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: I am just trying to get the information.

Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: Some €4,210, okay.

Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: If those figures can be brought back to the committee, that would be ideal. The Chair may have potentially already asked this but for the Shanganagh properties, what are the rents for the one-bedroom, two-bedroom and three-bedroom properties?

Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: That is €1,690.

Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: I got confused there. The one-bedroom unit rent is €1,250 and the three-bedroom units cost €1,700. What, then, is the rent for the two-bedroom units?

Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: For the purchased homes, can Mr. McGuane provide the full market value for the two-bedroom and three-bedroom properties if one wants to own them outright?

Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: That is not a problem.

Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: Part of this is my last question because I wanted to know how much the two-bedroom and the three-bedroom properties cost in their own right and then I would like to know what that open market value cost is in comparison to delivery. While we are waiting, I had a few other questions in my extensive notes. On the secure tenancy affordable rental, STAR, investment initiative, is that the...

Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: Is that a subsidy from the State?

Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: Would the Land Development Agency be able to provide affordable rents without that subsidy?

Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: That is interesting. As a matter of interest, what exactly does that mean and how does something go from an investment property to property, plant and equipment?

Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: What is the site then? Is it a particular site?

Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: That changes it in that way.

Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: That is interesting, as I did not know that. Does Mr. Coleman have the other figures to hand?

Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)

Mairéad Farrell: The full market value.

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