Jennifer Whitmore (Wicklow, Social Democrats)
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66. To ask the Minister for Enterprise, Trade and Employment the conditions placed by the IDA on the long-lease of land in Greystones for the purposes of the development of the Greystones media campus; and if he will make a statement on the matter. [24556/25]

Jennifer Whitmore (Wicklow, Social Democrats)
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67. To ask the Minister for Enterprise, Trade and Employment if the IDA placed a development timeline on the developer of the Greystones media campus; and if he will make a statement on the matter. [24557/25]

Jennifer Whitmore (Wicklow, Social Democrats)
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68. To ask the Minister for Enterprise, Trade and Employment if a rent review is part of the lease condition between the IDA and the developer of the Greystones media campus; and if he will make a statement on the matter. [24558/25]

Jennifer Whitmore (Wicklow, Social Democrats)
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69. To ask the Minister for Enterprise, Trade and Employment the properties and land rented by IDA in Wicklow from 2020 to date, in tabular form; the yearly rent paid per site; and if he will make a statement on the matter. [24559/25]

Jennifer Whitmore (Wicklow, Social Democrats)
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70. To ask the Minister for Enterprise, Trade and Employment the engagement there has been between the IDA and the developers of the Greystones media campus in relation to the site since the lease was entered into; and if he will make a statement on the matter. [24560/25]

Jennifer Whitmore (Wicklow, Social Democrats)
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71. To ask the Minister for Enterprise, Trade and Employment the date the lease between the IDA and the developer of the Greystones media campus was entered into, and with whom; and if he will make a statement on the matter. [24561/25]

Peter Burke (Longford-Westmeath, Fine Gael)
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I propose to take Questions Nos. 66 to 71, inclusive, together.

Regional development is a key element of Government's enterprise policy, and the work of my Department, and is a strategic imperative for IDA Ireland. IDA, under its new strategy 2025-2029, is targeting 550 of a total target of 1,000 investments to regional locations.

The availability of suitable property and strategic sites is a critical component of the regional value proposition and can be the key differentiator in investment decisions from both new and existing IDA clients as well as clients of Enterprise Ireland and the LEOs. IDA maintains a focus on land banks to future-proof the ability of its property portfolio to support the project pipeline, most notably large-scale capital-intensive projects which can have significant regional and national economic impacts.

IDA Ireland does not currently have any properties or lands rented in Wicklow by way of occupational lease. All sites sold by IDA under 999-year lease are sold for an agreed consideration and thereafter charged a nominal annual ground rent.

IDA Ireland sold a site at IDA Greystones Business Technology Park, Greystones, County Wicklow under 999-year lease in April 2022 to Greystones Media Campus Owner Ltd. The site was sold at a consideration representing the open market value of the site. The site is also subject to an annual nominal ground rent based on a charge of €32 per hectare. There is a rent review provision within the 999-year lease.

The site was sold under 999-year lease pursuant to IDA’s power of sale under the Industrial Development Acts. IDA typically sells all sites on its business parks to FDI clients and indigenous clients of Enterprise Ireland on this basis. The use of the lands is restricted to manufacturing and/or internationally traded services as specified in the Industrial Development (Service Industries) Order 2010 and purposes ancillary thereto.

The 999-year lease contains a development obligation on the part of the tenant. IDA continues to engage with the tenant with regard to the proposed development.

Furthermore, continued investment in infrastructure and land acquisitions, in addition to new buildings, is critical to delivering on IDA’s and EI’s balanced regional development agendas. IDA has land holdings of c 12.88 ha / 31.8 acres at IDA Arklow Business & Technology Park, Ballynattin, Co. Wicklow, that are available for marketing to prospective enterprises.