18. Commitments
In 1991, 2007 and 2012, the Agency entered into lease agreements of varying duration until 2017, 2026 and 2027, in respect of office accommodation at Treasury Building, Grand Canal Street, Dublin 2, D02XN96.
The 2016 gross annual rental cost under these operating leases is €2.8m, excluding a reverse premium of €0.5m per annum relating to deferred income included in note 14 and note 15.
The nominal future minimum rentals payable under non-cancellable operating leases are as follows:
| 2016 €'000 |
2015 €'000 |
|
|---|---|---|
| Within one year | 2,075 | 2,793 |
| In two to five years | 6,893 | 7,245 |
| Over five years | 7,420 | 9,143 |
| 16,388 | 19,181 |