Actually the property is in fact being managed by receivers on behalf of NAMA, but still, NAMA has launched new website features to help us establish what property is controlled by the Agency’s receivers.
We can now search for different types of property in the Republic of Ireland, Northern Ireland and Great Britain. And the information is presented in an altogether more attractive format, particularly if you are searching a small number of properties.
For the time being, we cannot download a complete listing as we could before. It is hoped that NAMA will shortly issue a statement giving more information about the new features, and any plans to further improve the presentation and quality of information provided. At lask week’s launch of the 2011 Annual Report, the NAMA CEO Brendan McDonagh indicated there would be photographs of properties for sale, for example, in future.
Unfortunately, we still don’t have a list of properties presently for sale by NAMA developers, and remember NAMA has foreclosed on perhaps just 10% of the property subject to its loans. NAMA says that such a list of property for sale by its developers would conflict with NAMA’s duty to maintain the confidentiality of its dealings with developers. So we may still get examples like the two sales in Cork where the properties – both landbanks on the outskirts of Cork city, detailed here and here – were sold without coming onto the open market.