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13/08/2012
State Paying €1m A Year Rent On Car Pound
The State is paying rent of €1m a year for a garda car pound, and will have to continue to do so for the next 14 years, the Independent has reported.
A 20-year lease on the site, which can hold up to 500 vehicles, was signed by the State at the height of the property boom in 2006. The agreement did not include a “break clause” which would have allowed the State to pull out of the agreement at some stage.
It was also agreed that upon review of the rent every 5 years, it could only be increased, not decreased.
This made it the only property in the Office of Public Works (OPW)'s huge portfolio which had seen its rent increase in the past three years. The OPW is paying the equivalent of €5.47 per day for every car stored in the car pound.
(H)
A 20-year lease on the site, which can hold up to 500 vehicles, was signed by the State at the height of the property boom in 2006. The agreement did not include a “break clause” which would have allowed the State to pull out of the agreement at some stage.
It was also agreed that upon review of the rent every 5 years, it could only be increased, not decreased.
This made it the only property in the Office of Public Works (OPW)'s huge portfolio which had seen its rent increase in the past three years. The OPW is paying the equivalent of €5.47 per day for every car stored in the car pound.
(H)
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