John Brady (Wicklow, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

55. To ask the Minister for Finance the number of vacant NAMA commercial buildings in the State with a county breakdown as well as the length of time each building has been vacant; and if he will make a statement on the matter. [3559/17]

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

I am advised by NAMA that its debtors and receivers control 14 commercial office properties which are currently vacant. The properties concerned are either on the market for sale or are in the planning system with a view to increasing their ultimate disposal value.  I am advised that two of the 14 office properties have been vacant for less than three months, five have been vacant for a period of between three and twelve months and the other seven have been vacant for longer than twelve months.

The Deputy will be aware that commercial properties, by their nature, are subject to voids on a regular basis. For instance, one or more floors of an office building may be vacant for a period between tenancies. Likewise, units in shopping centres are subject to frictional vacancy as certain businesses cease and others replace them. In addition, some buildings become obsolete and can no longer be occupied due to safety reasons. The day-to-day management of the commercial properties concerned is a matter for debtors and receivers. However, as the Deputy will be aware, it is NAMA's policy to ensure all vacant properties that are fit for purpose and meet the required safety standards are occupied and income-producing, and in many instances this involves NAMA providing funding to complete partially finished properties to ensure they are available to potential purchasers or tenants as soon as practicable.

The breakdown sought by the Deputy is set out in the following table.

Temporarily vacant NAMA-related commercial office property, by County

John Brady (Wicklow, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

56. To ask the Minister for Finance the number of undeveloped land portfolios owned by NAMA in the State, by county; the length of time the land has been held by NAMA; and if he will make a statement on the matter. [3560/17]

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

As indicated in my reply to Parliamentary Question 90 of 19 January 2017, apart from properties acquired by NARPS, NAMA holds 11 other properties on its balance sheet. I am advised that the majority of these were taken onto NAMA's balance sheet arising from legal and insolvency agreements. Nine of these assets are land and development assets, of which two are located abroad. The remaining seven land and development assets are located in Dublin. Six are located in the Docklands SDZ area and current asset management activity is geared towards enhancing their ultimate disposal value. The other land and development asset is also located in Dublin and is the subject of litigation. These assets were taken onto NAMA's balance sheet in the period since 2012.

John Brady (Wicklow, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

57. To ask the Minister for Finance if he will provide a breakdown of the length of time NAMA residential properties have been vacant; and if he will make a statement on the matter. [3561/17]

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

As indicated in my reply to Parliamentary Question 255 of 17 January 2017, NAMA debtors and receivers currently have exposure to 173 residential properties which are temporarily vacant.  The majority of these properties are currently on the market for sale, with many already sale agreed, or are being prepared for sale, are undergoing remediation works, or are between tenancies.

I am advised, by NAMA, that 37 of the properties have been vacant for less than six months, that another 54 properties have been vacant for a period between six and fifteen months and that 82 properties have been vacant for more than fifteen months.  The Deputy will be aware that it is NAMA's policy to ensure that all vacant properties that are fit for purpose and meet the required safety standards are occupied and income-producing and, in many instances, this involves NAMA providing funding to complete partially-finished properties to ensure they are made available to potential purchasers or tenants as soon as practicable.