Irish embassy in Paris is worth an estimated €45 million

The Irish Embassy in Paris is worth an estimated €45 million – making it the most valuable diplomatic property abroad owned by the State.

Figures released by Minister for Foreign Affairs Charlie Flanagan indicate that a network of properties owned by the State abroad for use as embassies is valued at nearly €90 million.

In a Dáil reply to questions tabled by Seán Crowe of Sinn Féin, he said that the Department of Foreign Affairs owned 12 properties abroad used as diplomatic missions.

The most valuable property listed was the Irish Embassy in Paris, which the Minister said was worth €45 million.

The Irish Embassy in Rome is based in a property which the Minster said was valued at more than €18 million.

The Embassy building in the Netherlands is valued at more than €6 million, while the Embassy in Australia is based in a building worth more than €4million. The Irish Embassy in Washington is in a property valued at about €2.7 million.

Mr Flanagan said that having a presence abroad was important for the country’s economic recovery and reputation.

Trade missions

He said they work to promote

Ireland

as a location for exports, research, study and tourism. He also said the embassies help to support trade missions, and directly assist Irish companies with regulatory issues or market access.

“[They also provide] frontline consular and passport services to Irish citizens overseas; influencing and negotiating for Ireland on issues that could impact our interests and priorities.”

Mr Flanagan warned the valuations for the properties owned by the State were “subject to the price volatility of the current global property market”.

“The embassies listed have been acquired in locations where the Government considers that the State should be represented and where there is clear advantage to owning, rather than renting, accommodation.

“These premises provide platforms for the promotion of Ireland’s trade and economic interests and cultural heritage, while also serving as showcases for Irish arts, crafts and products.”

Mr Flanagan told Mr Crowe that the Department of Foreign Affairs rented buildings for use as diplomatic missions in about 50 other locations worldwide.

The most expensive rent was in Brussels where the building used to house Ireland’s representatives to the EU cost €1.024 million last year.

Rent for the Irish Embassy building in London cost €692,000 last year.

The rent for the Irish mission to the UN in New York cost €689,000 last year.