NAMA publishes update on properties subject to enforcement action
27 April 2012 – The National Asset Management Agency (NAMA) has updated its website listing of properties that are subject to enforcement action by the Agency.
The new information includes all properties which are subject to enforcement action as at 31st March 2012.
The list includes 44 properties which were added in March. The total number of properties now listed is 1,195 (some of which are multiple properties such as apartment blocks). The updated listing includes assets which are for sale (with sales agents appointed) and which have an estimated market value, based on price indications guided by sales agents, in excess of €1 billion.
The properties to which receivers were appointed during March include a mix of residential, development, commercial and agricultural assets located in Ireland, Northern Ireland and Britain.
Properties that are listed as ‘not for sale at present’ will be offered for sale by the relevant receiver as soon as is practicable and in line with NAMA strategy for the properties.
NAMA encourages potential purchasers who may be interested in properties listed on this site to submit expressions of interest to the relevant receivers or, where applicable, sales agents.
NAMA’s overriding mandate under legislation is to obtain the best achievable return for the taxpayer and this underpins its strategy and day-to-day decision making, whether in terms of its dealings with individual debtors or in terms of its broader portfolio strategies.
By now, NAMA has completed its evaluation of business plans covering 99% of the loans on its balance sheet.
Its approach is to work with debtors where there is a clear benefit in terms of maximising the value that can be realised from their loans and associated properties and where they are willing to co-operate with the Agency in achieving this objective. The enforcement approach is adopted only after all other options have been considered.
The page can be accessed via the following link: www.nama.ie/about-our-work/properties-enforced/. Where available, contact details for sales agents are provided. The opening pages of the PDF on this link identify the properties added to the list since its last publication. NAMA updates the listing on a monthly basis.