(The new properties added in October 2011, click to enlarge)
NAMA has today published its now regular monthly list of properties subjected to foreclosure action. The full list is here, the list of new properties added is here, and you will find previous editions of the monthly list which was first launched in July 2011, here.
You should read the full list of NAMA’s terms for accessing the lists here. But in summary, this is what you’re looking at:
(1) Real estate property subject to loans in NAMA to which receivers have been appointed. The receiver’s website is shown against each property.
(2) This is all the real estate foreclosed sorted by country, and then region.
(3) Not all of the property may be for sale.
(4) Contact the receiver with enquiries or expressions of interest in the first instance. Only pester NAMA if you’re not getting any response from the receiver and make allowances that receivers will be busy with queries, particularly after a new release of foreclosed property.
(5) If you think there are mistakes on the list, contact NAMA.
What’s new? The properties to which receivers were appointed during October includes residential, development, retail, office, agricultural and industrial assets, in addition to a number of public houses in Dublin and Belfast. The list contains a substantial number of properties in Northern Ireland and Britain, including an office building in the Gasworks in Belfast and the Vantage Business Park site near London. The list includes 105 properties which have just been added. These include 57 to which receivers were appointed during October. In another 48 cases, receivers had already been appointed prior to acquisition of the loans by NAMA in October. The total number of properties now listed is 1,040 (some of which are multiple properties such as apartment blocks)
57 new assets in Northern Ireland added to the list bringing the new NI total at 31/10/11 to 141
Worryingly for NAMA only 2 assets appear to have been sold in Oct.
They appear to be these two : http://www.propertypartners.cc/3-upper-quilly-road-dromore/159595
A 3 bedroom detached house with 1.25 acres which was on the market at £150,000 and 14.75 acres of agricultural land which was on the market at £135,000. Both in Namatown; Dromore, Co. Down.
NAMA moving against Treasury Holdings???
@Patrick, anything’s possible but the reporting so far suggests the administration is limited to one property, Battersea Power Station, and not the portfolio of other properties owned by REO. Battersea has at least three powerful lenders, NAMA, Lloyds and Victor Hwang and administration might be the only feasible way for the parties to enforce the security, given that they have been unsuccessful in getting third party investment.
Treasury is understood to be one of the companies supported by NAMA, and it wouldn’t surprise me if the €200,000 salaries were paid to Messrs Ronan and Barrett (though that hasn’t been confirmed by NAMA). NAMA and Treasury cooperated in the sale of the Montevetro building on Barrow Street in south Dublin Docklands earlier this year.
NAMA’s portfolio managers have been told that at least 60% of their time must be devoted to disposals and getting the money in.
The appointment of administrators to BPS is just one indication of the new reality – although there are rumours that a £90 million investment sale went “pear shaped” in London today after the prospective purchasers got tired waiting for a decision from NAMA. The simplest of decisions seem to be taking a minimum of 4 weeks currently.
I suppose if you have no idea what you are doing and are afraid to take responsibility for your decisions (a civil service attribute) that’s to be expected…. but the world does not wait.
@WSTT, Indo had something on 90mil London sale today.
http://www.independent.ie/business/commercial-property/nama-to-gross-euro90m-from-london-deals-2949349.html
Attached info on the 30 largest institutional real estate investors,have been meaning too for a while !!
But what we keeping up on all the BPS press releases,launch parties,glossy brochures,videos,never got the time.
http://www.perenews.com/resources/PERE%2030/Global%20Investor%2030.pdf
The 60 odd properties in NI are accounted for by four outfits:
Jermon/ Peter Dolan – Nearly all the commercial stuff. This was taken out months ago – wonder why it’s taken so long to make the list?
Lisk/ Lanyon Trading – the Botanic Inn freeholds. This has been extensively reported.
GP Williams – All the Down and Fermanagh resi stuff.
Carn Properties/ Seamus McCloy – the Bellaghy and Ballymena stuff along with a site in Letterkenny.
Also there must surely be a production error in relation to some of the Carn stuff – nobody in their right mind would ask FJ Frisby, a Sandyford based industrial specialist, to sell resi site in Ballymena.
If you call the majority of those receivers, you get short shift. They are hunkering down to milk as much fee income as they possibly can from the assets by long term management. The last thing they want to do is sell anything. The old gravy train just rolled into town in dark depressing austere times. You don’t pass up such opportunities.
A bit like UORR,handy little earner for the professional classes!
Here’s an example of where Nama is going to be competing with the NI Exec
http://www.bbc.co.uk/news/uk-northern-ireland-15971776
Top of my head the following will definitely be marketed for housing: Cushendall, Ballynafeigh, Ballynahinch; possible mixed use: Broughshane, Holywood, Donegall Pass.