We learn from today’s Iris Oifigiuil that NAMA has had receivers appointed to assets at twop companies, both of which have been financially embattled for some time. NAMA has had Liam Dowdall of Smith & Williamson Freaney appointed as receiver to the following assets at P Elliot & Company Limited
(1) 133 and 134 New Seskin Court, Tallaght, Dublin 24, and the rents and profits deriving therefrom
(2) 305 Harbour Point Business Park, Little Island, Cork;
(3) Apartment 90, Block B, Temple Court, Northwood, Santry
(4) No. 17, Knightsbrook Park, Trim, County Meath
and the rents and profits deriving therefrom
P Elliot had receivers and liquidators appointed in June 2011 at the behest of non-NAMA creditors.
NAMA has also had Liam Dowdall of Smith & Williamson Freaney appointed as receiver to an unidentified property – looks like a development site – owned by NORTHWOOD (RESIDENTIAL) LIMITED in Dublin. Northwood is already in receivership. Its directors are listed as William Kilmurray (64), Ben Underwood (63) and Anthony Donnelly (48). It is owned by John Shiel (12.5%), Globe Estates Limited (37.5%) and AWG Property Developments (Ireland) Limited (50%. Globe Estates Limited is owned by William Kilmurray. AWG Property Developments (Ireland) Limited. AWG is owned by Northern Ireland company AWG which is showing as a “closed company” though its former directors include Paul Devine, Stephen Kelly and Lesley Anne Wallace.
Remember you can see a comprehensive list of Irish foreclosure action by NAMA here and in this regularly updated spreadsheet.
AWG started life as the asset management arm of Anglian Water but is now a private equity-controlled property firm focussed on Scotland.
The main Irish link is that in 2001 or thereabouts it bought a site in Belfast dock from Barnetts, the agricultural commodity firm. They got pp for a development which is now widely known as James Clow.
At some point – I guess pre-construction they sold it to the Cookstown developer Des Nugent. In latter years he has devoted considerable time and expense to getting people who agreed to buy the apartments in the development to pay up.