UPDATE: 7th July, 2011. There is a preview analysis here of the 2nd Allsop/Space auction being held on 7th July, 2011.
Even before last Friday’s Allsop-Space auction at the Shelbourne Hotel which saw 80-odd properties sold for just over €14m, there had been confirmation that there would be 4-6 “increasingly large” auctions held by the British auction giant together with its local partner. There is now confirmation on Allsop’s website that the next auction will be held on (Wednesday, 6th July, 2011.) UPDATE: 21st April, 2011. The Allsop and Space websites now say the auction will be on Thursday 7th July, 2011 with the auction catalogue published on 6th June, 2011 – as before there will be a special website for the auction which will go live on 4th June, 2011.
The venue hasn’t been announced but all Allsop British auctions tend to be held in upmarket hotels. The Shelbourne may be booked again, it’s not clear.(UPDATE 21st April, 2011. Indeed the venue is again to be the Shelbourne Hotel). In the Independent, the Space Managing Director, Stephen McCarthy says that the next auction is likely to have 200 properties, more than double the number of lots available last Friday. And it is estimated that some 1,300 will be brought to auction by non-NAMA banks this year. It is unclear if that is just for Bank of Scotland Ireland or includes Permanent TSB, National Irish Bank, ACC, KBC andUlster who are known to have foreclosed property.
There is still no word from the biggest forecloser of property NAMA. Also Allsop expect to have another four auctions in 2012. The 80 properties sold last Friday were indeed a drop in the ocean. NAMA reportedly controls some 6-16,000 properties within the M50 aroundDublinalone. This time next year, we will probably look back at the frenzy on display last Friday and smile at the naivety of some of the participants fretting over just 80 properties when so many more will shortly come under the hammer.
By the way the Independent claims the next Allsop-Space auction will be on July 7th. That is at odds with the date on the Allsop website. UPDATE: 21st April, 2011. The Allsop website has now been changed and the auction is now to take place on Thursday 7th, July, 2011 at the Shelbourne Hotel again.
UPDATE: 6th June, 2011. Allsop/Space has launched its catalogue for its second Irish auction being held in the Shelbourne Hotel on St Stephen’s Green in Dublin on 7th July from 12 midday. There are 87 lots listed at present, which is considerably less than the 200 lots seemingly promised some weeks ago. As before, there is a reserve price which may be less on the day but will not be more. There’s quite a mixture of property from a €30,000 reserve 3,000 sq ft site in Blackrock to a €1.45m semi-detached red-brick at 35 Ailesbury Road. There is the usual staple of foreclosed apartments in new developments in Dublin, though to my eyes, prices look a little harder than previous reserves. There are also far fewer commercial premises. This auction promises to attract a lot of attention, though I would be surprised if it matches the first auction in April 2011 for frenzy and mania.
NAMA Wine Lake 
Can someone answer me these questions
1. WHo will get a list of the NAMA properties for sale?
2. Who will be able to make offers on these properties?
3. How can I get a list of the NAMA properties for sale?
4. How will these NAMA properties be brought to auction? Through Estate Agents?
I find NAMA is becoming more and more shady in it’s dealings.
Thanks to anyone who can help!
@Kevin, to try to answer your questions by reference to your own numbering
1. To the best of my knowledge, no-one outside NAMA will get a list of NAMA properties for sale. Properties under NAMA’s control will be sold by either the developers under NAMA’s auspices or by NAMA receivers/portfolio managers. NAMA has said it will comply with the “Code of Practice for the Governance of State Agencies 2009” (see link below) when disposing of property assets.
https://namawinelake.wordpress.com/2010/07/12/if-you-thought-the-nama-business-plan-was-bereft-of-information-the-nama-codes-of-practice-%E2%80%93-disposal-of-bank-assets-and-the-disposal-of-property/
2. In terms of properties for sale by NAMA, the sales will typically be handled by estate agents and property companies. The only people that are excluded as buyers are the developers who owned the property originally though I have a strong feeling this may be challenged in the courts as unconstitutional – in fact I am quite surprised that there has not been an application to the courts in this regard already, for example by a developer representative organisation like CIF.
3. You can always ask NAMA directly for a list of properties for sale but I expect they will reply that properties are sold through normal sales channels (estate agents, property companies, auctions) and that the properties may not be described as NAMA properties because that might lower prices offered. Personally I think association with the NAMA brand is guaranteed to generate huge interest in any sale and if the property is marketable, the price will be bid up by that interest.
4. See the code of practice above. I expect it will be a mixture of auction and sale by private treaty through the usual channels (that is, estate agents and property companies)
Your feeling about NAMA being more shady might or might not be justified. It is a fact that NAMA is entering its disposal phase and it is logical that suspicion would grow of shenanigans at this point. NAMA might recognise that fact and try to address it.
In addition to sales of properties, NAMA will sometimes sell the underlying loans and it has a specific code of practice for those sales of loans which is here
https://namawinelake.wordpress.com/2010/09/15/2010/07/12/if-you-thought-the-nama-business-plan-was-bereft-of-information-the-nama-codes-of-practice-%e2%80%93-disposal-of-bank-assets-and-the-disposal-of-property/
The prices may *look* a bit harder but they are not the *real* reserve prices as Allsop itself says on its website – they are just a figure that the real, non-disclosed reserve price
will not exceed.
It would not surprise me if many of the July ”reserve prices” were not in fact reached.