Michael Creed (Cork North West, Fine Gael)
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Question 157: To ask the Minister for Finance if he will furnish the financial detail regarding the relocation of staff at a building (details supplied) in County Cork; to whom the vacated premises was disposed of and the consideration paid for same; if he will provide details regarding the total consideration paid for the new offices secured for these staff in Cork; and if he will make a statement on the matter. [42955/10]

Martin Mansergh (Tipperary South, Fianna Fail)
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In December 2004, the Commissioners of Public Works invited proposals from Property Developers in a position to provide high quality offices to facilitate the relocation of Revenue Commissioners from Sullivan's Quay. The requirement arose when the need was identified for the complete refurbishment of the existing Revenue offices at Sullivan's Quay to bring them into compliance with accommodation regulations. When it became clear that the likely cost of such a refurbishment, including temporary re-location of staff, would be prohibitive, it was agreed that acquisition of a new building, in exchange for the existing one, would provide a more cost-effective and timely solution.

The new purpose built offices in Blackpool were valued at the time at €39,136,000.00. OPW paid a monetary contribution of €19,136,000.00 and also provided the Sullivan's Quay Premises as part of the transaction. This represented exceptionally good value to the State.