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The agreement is for the existing lease on Ashford House, which is located on Tara Street in Dublin, to be renewed for five years effective from 1 January 2016 at €46 per square foot (excluding VAT), which is an increase from the previous rate of €33 per square foot.
The renewed lease, which was negotiated by the property management company HWBC, will continue with eight car-parking spaces at the same annual cost of €3,500 per space.
Rights of renewal and termination remain with NTPF at the end of this new lease term in 2021.
The renewal of the lease was discussed during the July meeting of the NTPF’s Audit and Risk Committee, the minutes of which were obtained by MI following a Freedom of Information request.
According to the minutes, Mr Michael Coyle of HWBC provided an update on the rental market, “the important factors that affected the protracted negotiations” with the landlord, the key consequences of the options considered, and his overall opinion that the NTPF should remain in Ashford House on a renewed lease term for five years effective from 1 January 2016.
The Committee agreed that the lease should be the default final five-year renewal of the Ashford House lease.
“A separate exercise that complements the emerging long-term future of NTPF will be carried out in the next three years that addresses the long-term office accommodation requirements of NTPF,” according to the minutes.
“This will also be carried out at a time that, if appropriate, would allow for a planned and orderly office move in advance of the next lease expiry date.”
Meanwhile, the Minister for Health Simon Harris has confirmed to MI that approval has been received from the Department of Public Expenditure and Reform to advertise the post of a full-time CEO for the NTPF.
As revealed in this newspaper, the post was sought by the NTPF to reflect its increased range of duties in relation to outsourcing public hospital waiting lists.