IDA paid €7.5 million for Leixlip site last year

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IDA paid €7.5 million for Leixlip site last year
IDA paid €7.5 million for Leixlip site last year

The IDA last November paid out €7.5 million for an 18-acre site at Collinstown, Leixlip, Co Kildare.

The pay-out is more than double the next highest amount that the IDA spent on any individual land purchase in 2018.

Chip giant, Intel has its sprawling Irish HQ at Collinstown, Leixlip.

However, an IDA spokesman wouldn’t be drawn on the reasons behind the purchase as the agency doesn’t comment on current or potential client activity.

The purchase was made on November 14 last year and coincided with Intel drawing up plans for a new $4bn (€3.53bn) manufacturing fabrication (FAB) facility at the Leixlip site.

That application for the potential $4bn investment is currently before Kildare County Council.

The IDA spokesman said that the IDA has a national development mandate “to acquire sites for industrial development and job creation – this is done where IDA believes industrial development will, or is likely, to occur as a result of an acquisition or purchase.

IDA Ireland’s land bank is a key part of IDA’s selling proposition to foreign investors.

In her written Dáil reply to Deputy Maurice Quinlivan (SF) on IDA acquisitions, Minister for Business, Enterprise and Innovation, Heather Humphreys stated: “It is important that the IDA has a supply of available properties that can be offered to firms considering making job-rich investments in Ireland, particularly for the regions.

She stated: “This helps diminish the lead-in time for potential investments and can be a key factor in securing projects for regional locations.”

The response provided by Minister Humphreys also confirms that the IDA last February paid €3.44 million for 69 acres at Gorteens and Kilmurray, Slieverue, Co Kilkenny.

The IDA also paid €1.1 million for lands at Loughbeg, Ringaskiddy, Cork last December.

In total, the IDA spent €16.7 million on land and building purchases over 2017 and 2018.

Minister Humphreys also confirms that the IDA paid out €5.14 million in rent last year.

The payout includes €2.09 million in rent for its HQ at Wilton Park House in Dublin.

The agency has a network of offices overseas and the figures show that €505,477 was paid in rent for its New York office.

In addition, the IDA spent €315,814 for rent of its London office and in both cases of New York City and London, the IDA shares accommodation with another State Agency or Irish Government.

The figures also show that the IDA spent €179,199 in rent for its Mountainview offices in California and €118,033 for offices at Chicago.

Source: Business News