SHANNON Development last year spent in excess of a half a million euro in maintaining vacant unoccupied factory sites around Clare.
In response to a Dáil question from Fine Gael deputy, Pat Breen, the Minister for Enterprise, Trade and Employment, Michael Martin said that Shannon Development last year spent €436,152 on maintaining vacant sites in the Shannon Free Zone and Smithstown.
Minister Martin said that €104,153 was spent on maintaining other sites in Clare, giving an overall total of €540,305
“The description maintenance covers landscaping, public lighting, security, staff costs and general building maintenance. Shannon Development does not break down its maintenance expenditure figures between vacant property and occupied property, given the ongoing change to that status as a result of new lettings etc.,” he said
The spend on maintaining the factory sites comes against the background of 20 new jobs being created at Shannon Development’s €11 million Information Age Park, where there is currently 8,500 sq ft available for letting in three units of large floor office space suitable for second stage incubation projects.
Deputy Pat Breen said, “It is important for the public to know how their money was being spent in relation to areas of industrial policy. This is particularly so in Clare, which has so many areas suffering from an inadequate jobs policy. I am disappointed that there is no breakdown of the figures for buildings let and unoccupied properties It is important for the public to know that there are not industrial units lying vacant for years and incurring unacceptable maintenance costs as has occurred in other parts of the country with the IDA.”
In a related property issue, the accounts for Shannon Development show that it has entered a joint venture agreement with Westpark Shannon Ltd, where in return for 20 acres of land in the development of Westpark, Shannon Free Zone, the company acquired a percentage return on the income which will accrue from the development. The 2005 annual report states: “The cost of the joint venture investment has been determined at €2.286 million which is the estimated market value of the land at the date of the investment.”