Valuation is one of the functions that NAMA has outsourced and indeed valuation services cover a spread of assets from property to loans to derivatives. The property valuers were named last August 2009 and one of the valuers DTZ Sherry Fitzgerald comes in for some unflattering comment today in a shopping centre rent review where it characterised a rent increase of 426pc as a typographical error. Retail Excellence Ireland (a retailers trade association has said)
“Landlords who are being lined up for NAMA are seeking to boost their yields and thus boost the valuation of their properties At the same time that some landlords are quoting high headline rents they are also doing deals with some retailers which include rent free periods,” he added.
Of course NAMA has a board and an executive to hold valuers to account, but as Lois Lane asked Superman who was flying with her through the sky “You’re holding me up. What’s holding you up?”. I repeat a call for a cross party select committee to frequently and routinely quiz NAMA on its activities.
NAMA Wine Lake 