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Wednesday 20 September 2017

Flagship property owed €1.4m in arrears

Paul Melia

Paul Melia

TENANTS in the DDDA's flagship property owe €1.4m in unpaid rent and rates to the authority.

The C&AG report says that just 12 of the 38 retail units at the CHQ building on Custom House Quay are occupied.

The report also finds that the value of property owned by the authority is worth around €26m -- but that records do not include details such as the folio number, purchase price, current value or costs incurred.

The value of the properties is only known because NAMA insisted that the information be compiled.

"Some of this information is recorded on a separate register of contracts but the two systems are not linked," the C&AG report says.

The report details a list of 13 property assets owned by the DDDA, including a car park beneath the Bord Gais Energy Theatre.

The C&AG notes that if tenants in CHQ go out of business, the building owner may be responsible for paying rates arrears to Dublin City Council.

"The authority's records indicate that some of its tenants were in arrears for the payment of both rent and rates," it says.

"Arrears owed to the authority by tenants in the Custom House Quay building stood at €1.4m at the end of December 2010. Where tenants vacate units, the authority (as occupying owner) may become liable," it adds.

The buildings owned by the DDDA are:

• Custom House Quay Building: 38 units, 12 occupied.

• 52-55 Sir John Rogerson's Quay, office building: Vacant.

• Block F, Hanover Wharf, Grand Canal Harbour: Vacant.

• Unit 1 and 5 Hanover Quay: Vacant.

• Grand Canal Square Public Car Park: Operating.

• Units 3, 4 and 5 Longboat Quay: Occupied.

• Unit 1 Longboat Quay: Occupied.

• Units 3 and 4 Hanover Quay: Occupied.

• Unit 2 Hanover Quay: Occupied.

• Cafe Unit located on the Campshires: Occupied.

• Restaurant Unit located on the Campshires: Occupied.

• 3-4 East Road (includes four car park spaces): Occupied.

• Block 4, Excise Walk, Clarion Quay: Occupied.

Irish Independent

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