Written answers

Wednesday, 4 April 2007

Department of Enterprise, Trade and Employment

Industrial Development

11:00 pm

Photo of John PerryJohn Perry (Sligo-Leitrim, Fine Gael)
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Question 207: To ask the Minister for Enterprise, Trade and Employment if he will reduce the amount on the freehold lease for a company (details supplied) in County Sligo; and if he will make a statement on the matter. [13398/07]

Photo of Micheál MartinMicheál Martin (Cork South Central, Fianna Fail)
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The management of IDA Ireland's industrial property portfolio, including the purchase and disposal of property, is a day-to-day operational matter for the Agency as part of the statutory responsibility assigned to it by the Oireachtas and not a matter in which I have a function.

I have been informed by IDA Ireland that, in 1998, the Agency sold 1.3152 Hectares, on a leasehold basis, to Ballymote Community Enterprise Ltd. In October, 2006 the Ballymote Community Enterprise Ltd. requested that IDA sell the freehold interest to them.

IDA policy for land sales is to obtain market value when disposing of property assets and part of this process involves seeking an independent valuation by a national accredited valuer. Accordingly, the Agency obtained a freehold valuation of these lands from Savills HOK and, on 27 March last, the Agency informed Ballymote Community Enterprise Ltd, through their solicitor, Johnson & Johnson, of this valuation. IDA Ireland is awaiting a reply from Ballymote Community Enterprise Ltd.

The Agency has indicated to me that if the Community Enterprise is unhappy with the valuation quoted, they are welcome to seek their own valuation from valuers with nationwide valuation experience for comparison purposes and revert to IDA on the matter.

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