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The advertisement for the four-storey building in Rathmines, Dublin 6, on property website www.Daft.ie is now marked with “sale agreed”. It is described as a “prestigious HQ location” within walking distance of the Charlemont Luas stop. It is situated 100 metres from Portobello Bridge and one kilometre from St Stephen’ s Green. The building includes 12 car parking spaces.
A spokesperson for the Council indicated that it could make no comment until the sale had concluded. It was reportedly seeking €2.75 million for the property.
Management of the Council’s Property Strategy to include the sale of Lynn House is among the strategic objectives in the regulator’s 2016 business plan.
In 2008, the Council controversially entered into an arrangement whereby it was tied into a 20-year lease for its current HQ Kingram House with an annual rent of €820,000. The market rent for the property is reportedly less than half of this. The lease will expire on 31 December 2032.
The terms were subject to litigation and the judgement found in favour of the building’s owners. The Council appealed this decision, but subsequently reached a settlement in February 2015. The Council previously told the Medical Independent (MI) that the settlement terms are confidential.
According to the Council’s annual report for 2015, under “Macro Tenancy arrangements at Kingram House”, the Council “now has secure terms, which will offer financial clarity for the organisation in the coming years”.
Rent and rates in 2015 amounted to €1,074,363, as compared to €1, 218 223 the previous year, states the annual report.
The Council’s decision to rent Kingram House has long been a source of controversy among doctors, particularly against the backdrop of the registration fee hike from €535 to €605 last year.