State lost ‘tens of millions’ on ‘train crash’ lease deal for Garda buildings

OPW official alleges ‘missed chances’ in renewal of lease for Harcourt Square complex

In late 2016,  the OPW agreed to a six-year lease for Harcourt Square for an annual rent of €6.01 million. Image: Google Maps

In late 2016, the OPW agreed to a six-year lease for Harcourt Square for an annual rent of €6.01 million. Image: Google Maps

The State has lost “tens of millions of euro” on a “train crash” property deal for the Garda buildings at Harcourt Square, according to an Office of Public Works (OPW) official who worked on the case.

A dossier on renewal of the lease at Harcourt Square alleges that in 2011 the OPW was approached with a proposal by the then landlord to reduce the rent on the premises by almost €1 million per year. At the time the OPW was paying just less than €5 million a year in rent for the premises, which houses operational facilities for some of the most important Garda units in the force.

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