 The Minister of State at the Office of Public Works, Mr Tom Parlon, described the acquisition as "a true asset in the State's property portfolio".On 21 May 2007 a 99 year full repair and insure lease on Durrow Abbey House was agreed by the Minister for the Environment, Heritage and Local Government John Gormley and the Arts for Peace Foundation at a peppercorn rate (€10 annual rent).This requires the Foundation, as lessee, to carry out all internal and external repairs/maintenance to the fabric of Durrow Abbey.