Belfast Telegraph

Thursday 24 July 2014

Nama property portfolio unveiled

Portmarnock Hotel and Golf Links in north Dublin is just one of the properties seized by Nama

The full scale of the state's 30 billion euro toxic property portfolio has been exposed with the publication of Nama's assets.

It shows the taxpayer has been lumbered with hotels, golf courses, trophy homes, an overseas marina, an airport, creches, shopping centres and pubs which were snapped up during the boom years.

Details of almost 850 properties seized by Nama, published for the first time on its website, range from the prestigious to the pedestrian.

Among the more upmarket assets are the privately run Weston Airport, in Leixlip, Co Kildare, Palmerstown House estate, also in Co Kildare, as well as Tulfarris House and Golf Resort in Co Wicklow.

Portmarnock Hotel and Golf Links, in north Dublin, Cork's Fota Island Hotel and Golf Course and Kildare's Moyvalley Hotel and Golf Club are among almost 30 hotels and golf courses taken over by the state's "bad bank".

Two trophy homes in salubrious Ballsbridge, Dublin 4 - on Ailesbury Road and Elgin Road - have also been "Nama-ed", the details reveal.

Several properties seized in and around Grafton Street show it would be difficult to negotiate one of the country's busiest shopping areas without passing a building under the control of the agency.

Other treasured addresses in the capital include offices and retail premises on St Stephen's Green, College Green, Merrion Square and Fitzwilliam Square.

For those looking for more unusual purchases at knock-down prices, there is marshland at Booterstown, south Co Dublin, on the list, a historical abbey building at Rathfarnham and a boat house in Cobh, Co Cork.

The state has also taken control of almost 200 properties in Britain - including a movie theatre in London's Leicester Square - and nearly 80 in Northern Ireland in an attempt to clean up the mess left by the credit binge and purge Irish banks of their bad debts.