Billy Timmins (Wicklow, Renua Ireland)
Link to this: Individually | In context | Oireachtas source

169. To ask the Minister for Finance the current cost of rental accommodation for the National Treasury Management Agency to whom the rent is paid; the plans the agency has to move office location; the discussions the agency has had with other State agencies regarding such a move; and if he will make a statement on the matter. [41693/15]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

In 1991, 2007 and 2012, the Agency entered into lease agreements of varying duration until 2017, 2026 & 2027, in respect of office accommodation at Treasury Building, Grand Canal Street, Dublin 2.  The gross annual rental cost under these operating leases is €2.8 million excluding a reverse premium of €0.5 million per annum. The rent, payable quarterly is paid to Knight Frank as agents for Jayfield Investments Limited.The NTMA recently undertook a premises review in relation to its long term premises requirements. A shortlist of four office venues was identified with the North Wall Quay Project Wave site next to the planned new headquarters of the Central Bank being selected as the preferred option. Preliminary negotiations with the developer will now begin in order to secure an agreement. However, no agreement will be put in place until these negotiations have been finalised and due diligence has been completed, which may take some time.  If everything goes according to schedule it is planned that the NTMA (Including the National Asset Management Agency (the "NAMA") and the Strategic Banking Corporation of Ireland (the "SBCI") would move to new premises in late 2018.

The NTMA has incorporated the office space requirements of the NAMA and SBCI businesses into the overall NTMA proposal to move office.