Tenant trouble for IDA could cost €40m

THE State could be exposed to losses of over €40 million if it cannot find tenants for properties it has leased.

The Industrial Development Authority (IDA), the Government agency responsible for securing overseas investment in Ireland, has 83 buildings on long-term lease, with a further two reserved.

Forty-five of the 83 buildings being leased are occupied, while another is in the process of being taken back by the landlord, according to the IDA.