Council to lease city business hub

IDA Ireland, IT Sligo and Sligo County Council are planning to lease the first floor of the Building Block ( formerly Waterfront House) on the banks of the Garavogue.

Legal documents are being drawn up for a 10 year lease with the IDA to take a 50 per cent stake ( about 31 desks) and Sligo County Council’s Local Enterprise Office ( LEO) and IT Sligo taking 25 per cent each.

It’s expected to cost the Council ¤ 26,475 plus VAT per annum but no formal legal agreement is in place yet.

Head of LEO John Reilly told members the rationale for the Council’s involvement “is to put in place in the centre of the city an asset in terms of enterprise and economic development that will project Sligo as a modern top class location for business.”

“Potentially, businesses from outside the region can operate on a small scale and get a feel for the potential of Sligo,” he said.

“A scenario involving a number of businesses setting up larger operations here, having sampled what is on offer in the facility, is one that all concerned will work towards,” he said, adding that the maximum rent receivable would be ¤ 39,000- 42,000 p. a.