The Sunday Independent reported two days ago on the State’s €129m annual property rent bill. This entry links to the full list (available here, courtesy of the Office of Public Works) and looks at the income of NAMA developers. The list itself is of spending by various government departments – it excludes spending by state companies and agencies, you won’t find the NTMA or NAMA rent bill forTreasuryBuilding on the list.
The list itself is well worth reading. It is truly amazing how much property is leased by government departments and the range of landlords is also impressive ranging from insurance giants, unions, religious orders, the Duke of Leinster, NAMA developers, a few politically-connected individuals, the Criminal Assets Bureau and what appear to be ordinary individuals – you might be surprised at the identity of some of the landlords, I was.
In terms of NAMA developers or more accurately developers whose loans were reported to be in NAMA or NAMA-bound, some may be hidden behind corporate identities and nominees, but the landlords to the State would appear to include
(1) Park Rite (Derek Quinlan’s car parking company)
(2) Breydon Developments (Bernard McNamara)
(3) Liam and Rosin Carroll (both as individuals and in the guise of companies, eg Daninger, Alexion)
(4) Niall McCormack
(5) McEnany Construction (John McCann)
(6) Belltrap Property (Joe O’Reilly)
(7) Cosgrave Property Group
(8) Henry A Crosbie Containers Limited/ Crosbie Property (Harry Crosbie)
(9) Lindat Property/Airscape Limited (Pat Doherty)
(10) Tabnaz Partnership (David Courtney)
(11) Pecan Properties (Jerry O’Reilly)
(12) Ray Grehan
(13) Paddy Sweeny and Thomas Considine
(14) Gerry Gannon
(15) McCormack family
(16) Cuprum Properties (Garret Kelleher)
NAMA has said in the past that it will move to control rent rolls where developers are in default. Again, the full list is available here.