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Dáil
‹ Ceisteanna — Questions. Oral Answers. - Sugar Company's Head Office.

Sugar Company head office costs and sale-leaseback

Summary

The Minister said office accommodation and staffing are matters for Sugar Company management; the precise running cost was unavailable, though £230,000 remained after rental income, and 160 people worked there. CSET owns the building, with the Central Statistics Office renting about half; the company was seriously considering a sale-and-leaseback arrangement, which the Minister agreed made economic sense.

Ned O'Keeffe Mr. E. O'Keeffe Fianna Fáil

asked the Minister for Agriculture the cost of running the Comhlucht Siúicre Éireann head office in Earlsfort Terrace, Dublin; and if there are any plans to decentralise the office and its staff.

Comment on this

The provision and cost of office accommodation, including decentralisation, are Sugar Company management functions.

Comment on this

Will the Minister tell the House the cost of running the sugar division of CSET at head office in Earlsfort Terrace?

Comment on this

I do not have that precise information. The rent from lettings contributes to the running cost, leaving £230,000 to be borne by the company.

Comment on this

Is the Minister in a position to tell the House the number of people working in the Earlsfort Terrace premises?

Comment on this

Had the Deputy been present two weeks ago he would have heard me giving that information to Deputy Treacy. The number mentioned was 160.

Comment on this
Ray Burke Mr. R. Burke Fianna Fáil

Is the building in Earlsfort Terrace owned by CSET?

Comment on this

Yes, it is their property.

Comment on this
Ray Burke Mr. R. Burke Fianna Fáil

And the letting the Minister referred to is one the company is charging their subsidiary, Erin Foods, for?

Comment on this

No, the Central Statistics Office are the main tenants.

Comment on this
Ray Burke Mr. R. Burke Fianna Fáil

Will the Minister accept that at a time when the company is under-capitalised it makes good economic sense to sell the building and have a leaseback agreement?

Comment on this

Certainly, and that is something the company are seriously considering.

Comment on this
Ray Burke Mr. R. Burke Fianna Fáil

Will the Minister be recommending that procedure?

Comment on this

The company have made that position known.

Comment on this

Will the Minister give the overall cost of the head office, taking lettings into consideration?

Comment on this

I am concerned with the major policy decisions of the Sugar Company but the day-to-day running of the concern is a matter for themselves. I do not interfere with them.

Comment on this

How many tenants have they?

Comment on this

The only thing I am aware of is that half of the building is rented to the Central Statistics Office. There may be some other tenants but I do not have those details.

Comment on this