UPDATE: 1st May, 2013. The NAMA foreclosure list has been updated for March 2013. The list now has 1,723 properties up from 1,715 in February 2013. But as we don’t know how many properties have been deleted or sold during during March 2013, we can’t really deduce that just 8 properties have been added. NAMA doesn’t produce a list showing the latest additions only, so you have to trawl through the listings online. Also NAMA’s email feature doesn’t work on the search function, even though this has been brought to NAMA’s attention on several occasions.
UPDATE: 3rd April, 2013. The NAMA foreclosure list has been updated for February 2013. The list now has 1,715 properties up from 1,634 in January 2013. But as we don’t know how many properties have been deleted or sold during during January 2013, we can’t really deduce that just 81 properties have been added.
UPDATE: 28th February 2013. The NAMA foreclosure list has been updated for January 2013. The list now has 1,717 properties up from 1,626 in December 2012. But as we don’t know how many properties have been deleted or sold during during February 2013, we can’t really deduce that just 91 properties have been added.
UPDATE: 1st February 2013. The NAMA foreclosure list has been updated for December 2012. The list now has 1,626 properties up from 1,499 in November 2012. But as we don’t know how many properties have been deleted or sold during during December 2012, we can’t really deduce that 127 properties have been added. NAMA is one day late in updating the list which is still error ridden in its implementation. You can’t even email the data because of errors in how NAMA has implemented its search. Poor form which directly reflects on Brendan McDonagh – he can’t blame anyone else for this standard of delivery.
UPDATE: 18th December, 2012. TheStory has the latest foreclosure list in one downloadable document here.
UPDATE: 31st July, 2012. Many of you are visiting here today because you’ve heard NAMA has improved the information it provides for its foreclosed property, much of which is for sale. There is a blogpost about NAMA’s new features here and you can directly access NAMA’s new search features for its foreclosed property here.
UPDATE: 29th June, 2012. The tenth edition of the NAMA Enforcement List has been published and is is available here It is hoped that we can get a spreadsheet of the data here shortly
PDATE: 31st May, 2012. The ninth edition of the NAMA Enforcement List has been published and is available here It is hoped that we can get a spreadsheet of the data here shortly.
UPDATE: 27th April, 2012. The ninth edition of the NAMA Enforcement List has been published and is available here . It is hoped that we can get a spreadsheet of the data here shortly.
UPDATE: 29th February, 2012. The seventh edition of the NAMA Enforcement List has been published and is available here . A spreadsheet of the data is here, thanks to a member of the NWL blog audience.
UPDATE: 5th January, 2012. It seems the sixth edition issued by NAMA on 22nd December, 2011 omitted pre-November 2011 foreclosed properties for sale and a new version is now available of the sixth edition here.
UPDATE: 22nd December, 2011. The sixth edition of the NAMA Enforcement List has been published and is available here.
UPDATE: 30th November, 2011. The fifth edition of the NAMA Enforcement List has been published and is available here.
UPDATE: 29th October, 2011. The fourth edition of the NAMA Enforcement List has been published and is available here.
UPDATE: 4th October, 2011. The third edition of the NAMA Enforcement List has been published and is available here.
UPDATE : 31st August, 2011. The second edition of the NAMA Enforcement List has been published and is available here.
This is a new page which is devoted to the property with which NAMA has taken enforcement action. On 28th July, 2011 NAMA published its first list of real estate property to which the agency has appointed receivers. Gavin Sheridan at thestory.ie has converted the data to a downloadable spreadsheet and also mapped the information on a Google map of the UK and Ireland. The results of his endeavours are here.
NAMA provides the following caveats for the list which it publishes
“The fact that a property is listed on this website does not necessarily imply that that property is currently on the open market for sale. Insolvency professionals’ rights and obligations are not affected.
Any query with respect to the sale status of any property listed, or any other matter relating to the facts of a specific property, should be directed to the appointed receiver. The name of the receiver firm or other insolvency agent is outlined alongside each specified asset. Where applicable their web address detailing their contact details is also provided.
If however you believe that information contained in this document is inaccurate or misleading please contact NAMA at firstname.lastname@example.org and NAMA will correct or clarify the information as necessary.”
NAMA reported sales (see here for more information). The following list is generally updated once per week.
(49) Edward Square shopping centre in Galway owned by Gerry Barrett’s Edward Holdings for €27m. It is producing rent of €2.8m per annum from . The buyer is Signature Capital, “an Irish and German real estate investment company which has already acquired properties in Germany, the UK and the US valued at over €900 million” The Irish Times reported the net initial yield was 8.7%; the gross yield was just over 10%. September 2012
(48) 159 City Road, London, owned by McCabe builders sold to residential developer Mount Anvil for GBP 51m (€65m) in July 2012
(47) 15 Marsh Wall, City of London, owned by Ray and Danny Grehan’s Glenkerrin, bought by “Lebanese-backed Chalegrove” in November 2011, price not disclosed
(46) Killymeal House, 2 Cromac Quay, Belfast owned by Jermon sold to JM & JT Partnership for GBP 3.1m (€3.8m) in May 2012.
(45) 39 St Stephen’s Green in Dublin city centre, owned by Bernard McNamara bought for €12m in 2006, sold to undisclosed Irish buyer for €7m. The tenant is Bank of Ireland (May 2012)
(44) Castlelands Construction, 450-acres of land-bank in Douglas, County Cork assembled at €100m, sold to buyer unknown but believed to be local farmer for €7m (April 2012)
(43) Niall Mellon properties – “Marlay Grange” in Rathfarnham, south Dublin, fire damaged mansion (former British embassy) on 12.5 acres asking price of €2.75m, “understood to have sold for” €2.3m (the correction and apology printed in the Independent on 28th April, 2012 says €2.5m) and 242-acre Coolmore Estate in Co Kilkenny for around €3.25m. Buyers unknown (April 2012)
(42) Development at The Minories, London EC3 owned by the Beetham Organisation sold to Bashir Nathoo of the “Splendid Hotels Group” for GBP 33m (March 2012)
(41) Loan by Bank of Ireland to The Sprucefield Centre Limited totalling GBP 8.5m (€10m) sold, price unknown, to Westfield the Austrialian shopping centre giant. (April 2012)
(40) 1 and 3 Shrewsbury Road, Ballsbridge, Dublin owned by Derek Quinlan sold for a total of €5.5m, €2m less than the asking price. Bought for €27m. Buyer unknown. (April 2012)
(39) Riverside Works, 419 Wick Lane, Hackney, London E3 believed to have been owned by Silverpeak Limited and sold for GBP 15.7m (€19m) to Development Securities PLC and the Canadian company, the Realstar Group (April 2012)
(38) 107 Cheapside, London sold for GBP 124m (€148.8m) to Invesco Real Estate, seller was Seamus Ross’s Menolly Investments. (March 2012)
(37) Casino House in Malahide, north Dublin purchased with 1.9 acres for €600,000 by a trust wishing to develop the property as a tourist site. Gerry Gannon was the developer who paid IR Punt 12m for the 6.5-acre site in 1999.
(36) 1 Elgin Road in Ballsbridge Dublin, owned by Derek Quinlan sold by receivers appointed by NAMA, Paul McDowell of Knight Frank sold to the Belgian embassy, asking price was €2.95m, actual sale price not disclosed, was bought for €7m by Derek Quinlan in 2007. (March 2012)
(35) The Morrison hotel in Dublin, formerly owned by developer and businessman Hugh O’Regan being sold for “more than €20m” to Elena Baturina (Yelena Baturina), colourful Russian billionaire and wife of Yuri Luzhkov, former mayor of Moscow (February 2012).
(34) Site on Great Victoria Street in Belfast owned by Mervyn McAlister sold to Lissan Coal Company, no price reported but speculation at GBP 7m (€8.3m) (February 2012).
(33) 100 Cheapside in the City of London, owned by Seamus Ross’s Menolly Investments, the leasehold in the 100,000 sq ft building was sold to the City of London Corporation in 2011. Price not disclosed.
(32) It is reported that the former site of the Odeon cinema in Leicester Square which was owned by Steamboat Developments has been sold to the Edwardian hotel group in January 2012 (no price yet given). Costar has more details on the transaction, but there is still no price disclosed.
(31) The Irish Times reports what it claims are NAMA-related transactions on the upmarket Ailesbury Road in Dublin 4. There is Noel Smyth’s No 14 which reportedly sold for €4m (buyer/date not given but understood to be late 2011). Bernard McNamara’s No 22 which sold for about €10m to JP McManus in November 2011. Bernard McNamara’s No 14a and 16a which were asking 4.25m together are undertood to have been sold (no buyer/date except “recently” or price reported). Derek Quinlan’s No 43 which reportedly sold for €2.7m.
(30) Royal London House at 22-25 Finsbury Square, London sold for GBP 25m in December 2011, buyers unknown, sellers Shieldpoint 22 Limited controlled by Eugene Larkin and John Flynn.
(29) 125 acres of “farmland”, or more accurately development land at Curraheen, Bishopstown, Cork owned by John Fleming sold to University College Cork and the Munster Agricultural Society for €3-4m, reportedly, January 2012.
(28) The Forge and another development in the Isle of Dogs, owned by Ray Grehan sold for €90m, November 2011, the buyer of the development is said to be a Lebanese developer.
(27) 9-12 Dingwall Road and 13-16 Dingwall Road, both in Croydon owned by Magnet Property Investments Limited from London and sold to Abstract Securities for a reported GBP 3m in November 2011.
(26) The Georgia Club (golf resort close to Altanta, Georgia, USA) owned by Barber Creek Land Company in which Derek Quinlan was prominent sold to Alvarez & Marsal Capital Real Estate (Los Angeles, California) and KRE Capital (Beverly Hills, Los Angeles, California) for USD 10m (€7m) in September 2011. Without citing sources, the Irish Independent claims the sale represented a loss of USD 80m for NAMA.
(25) “Britain’s most expensive home”, Updown Court, Surrey, England borrower was Leslie Vercoe-Allen, sold to an unidentified Indian businessman in October 2011 for GBP 35m.
(24) Reportedly sold in August 2011, 48 acres of land in Taplow, Buckinghamshire, England. The borrower was Towntalk Limited, a London property developer. The buyer was Barratt Homes. The sale price is not revealed but the purchase price of the property in 2006 was GBP 30.25m.
(23) Although it was reported that a sale was near to agreement last September 2010, it is now being reported that the Audley Square Car Park in Mayfair is being sold to British mobile telephone tycoon John Cauldwell for GBP 150m, October 2011.
(22) The Sunday Business Post reports that Derek Quinlan’s 43 Ailesbury Road together with the mews house at 18 Ailesbury Road have been sold for €2.5m. Unknown buyer, October 2011.
(21) This may not meet the definition of a sale but it is reported that a GBP 200m (€230m) loan to Ascot Racecourse Limited is “being repaid early” September 2011
(20) NAMA’s largest single disposal to date, €800m of loans advanced to the Maybourne group, the hotel company which owns three 5-star hotels in central London, the Berkeley, the Connaught and Claridge’s. The loans were sold at face value, that is what they were originally worth with the originating banks, and including interest to Maybourne Finance Limited, a company reportedly controlled by the Barclay brothers, David and Frederick who already own London’s Ritz Hotel, not to mention the Telegraph Media Group which prints the Daily Telegraph newspaper and Spectator magazine in the UK. September 2011.
(19) Emmet Oliver at the Irish Independent seems to have the inside track on the sale of five Derek Quinlan-associated properties not reported below. He claims the apartment owned by Derek and his wife, Siobhan at the Merrion Hotel in Dublin has been sold for €2m, which is impressive as it was seemingly valued at €1m when NAMA foreclosed earlier this year. In London, a residential property at 40 Charles Street in Mayfair has now been sold according to Emmet for GBP 25m (€29m) which was the reported asking price when the property came on the market in May 2010. Given the strength of the prime central London market in the past year, the sale price might be considered disappointing though it should be stressed that Emmet doesn’t indicate when the property was in fact sold. The thir1d building, 165-169 New Bond Street which houses Asprey jewellers was sold for GBP 75m in September 2009 so Emmet’s reporting today is more a cumulative work, it seems though he claims the sale price was GBP 73m. Also reported is the sale of the DKNY building at 27 Old Bond Street for GBP 50m in May 2010 having been bought in 2002 for GBP 22m. Lastly in terms of real estate sales associated with NAMA, the sale of the Knightsbridge Estate (3.5 acre commercially developed site also called the Island) for GBP 580m.
(18) Northern Ireland company Beltrae Partners claims to have “originated and advised on the acquisition of a portfolio of care homes in England from NAMA by a London based property fund for £46.2m” and to have “originated and advised on the acquisition of a student housing project in London by a US property fund from NAMA for €57m” No further details available, first identified on the Beltrae website in September 2011.
(17) a “property in Tallaght” procured by the HSE in Tallaght from the NAMA receiver reported by Irish Medical Times. The property is not identified by the Irish Medical Times but the only Tallaght, Dublin 24 office building on the NAMA enforcement list was St John’s House on Main Street, Tallaght. No price, September 2011.
(16) An entire company BMD which is a subsidiary of Bowen was sold by NAMA to senior management team at BMD namely John Allen, Paul Keegan, Nicholas Lynch, Frank O’Keeffe and managing director Mike Walsh. No price disclosed, September 2011.
(15) ABC Cinema site, Royal Tunbridge Wells in Kent,UK sold by Rydell Properties (the O’Donovan’s company) to venture between Carlyle and Bellhouse Joseph for GBP 10m August 2011
(14) Smurfit Kappa site in Clonskeagh, Dublin 4, Pamarette consortium sold to Smurfit Kappa for €8m August 2011
(13) 11-15 Arlington Street in St James’s, central London. John McCabe sold to Norway’s oil and shipping tycoons the Smedvig family for a reported GBP 20m+ August 2011
(12) Al-Jamahiriya School site at Glebe Place, central London (Derek Quinlan sold to Orion Partners for a reported GBP 80-90m August 2011)
(11) Fanum House,Belfast (Jermon Developments, sold to Seamus Gillan’s South Bank Square Limited for a reported GBP 4-5m, August 2011)
(10) Artizan shopping centre,Dumbarton,Scotland (Jermon Developments, sold to LaSalle Investment Management for GBP 4.85m, July 2011)
(9) Apartments at the Beacon South Quarter, southDublin (Paddy Shovlin, Tony and Patrick Fitzpatrick, sold to the Cluid Housing Association for €10.3m July 2011)
(8) 1 King William Street, City of London (Paddy Shovlin, Tony and Patrick Fitzpatrick, sold to Nippon Telephone and Telegraph Corporation for GBP 67.5m, June 2011)
(7) 197-213 Oxford Street*, centralLondon (Cosgrave Property Group, sold to Amancio Ortega for GBP 162m June 2011)
(6) 5 Olympic Way, Wembley, northLondon (John Fleming, unknown buyer for more than €33m April 2011)
(5) Houndshill shopping centre,Blackpool (Brendan Flood’s Modus Ventures, sold to an unknown buyer for GBP 100m)
(4) Loans associated with the Maybourne group** (Derek Quinlan and others, sale to 1MDB price not disclosed, sale to Robert Tchenguiz price not disclosed)
(3) 20, Grosvenor Square, centralLondon (Richard Caring reportedly sold to Richard Caring March 2011)
(2) 157 Waterloo Road, southLondon ( CPSL Limited, sold to Shiva Hotels for €17m March 2011)
(1) Montevetro Building,Barrow Street, centralDublin (Treasury Holdings sold for €99m February 2011)
*Not confirmed that this was a NAMA property. The Cosgraves are reportedly a NAMA Top 10 developer but it is not confirmed if the property above was subject to any loan, let alone a loan under NAMA’s control)
** NAMA’s involvement with the reported sale of loans has not been confirmed