Belfast Telegraph

No Ulster properties seized by Nama in latest tranche

By Clare Weir

No properties or land banks in Northern Ireland have been included in the latest tranche of Nama enforcement actions.

As many as 35 buildings or plots were seized in the latest round in January.

Most of the properties are in the Republic, including Dublin, Kildare, Limerick and Tipperary.

One of the properties is the Showgrounds Shopping Centre in Clonmel, which opened in 2009, developed by Greenband Investments.

There is also an office development in Islington, London, and a farm in Middlesex.

In December, around 60 properties and land banks in Northern Ireland were added to the Republic's bad debt agency, Nama.

Many were properties formerly owned by Co Tyrone property developer Peter Dolan, who owned the Jermon group of businesses, meaning that Nama is now landlord for a number of key retail and office properties in Belfast, including the Scottish Mutual Building in Donegall Square South, HMV and TK Maxx in Donegall Arcade and Mothercare in Castle Place.

Killymeal House, an office complex in the Gasworks complex on the Ormeau Road in Belfast, rented by the offices of the Industrial Tribunal and The Fair Employment Tribunals, were also on the December list, as well as office and retail space in Dungannon and Moygashel, which was also once part of the Jermon portfolio.

Several building developments owned by bankrupt Ballycastle developer Mervyn McAlister have also been absorbed by Nama in recent months as well as some of Belfast's best-known pubs.

The agency appointed an administrator to two firms, Lanyon Trading and Lisk - controlled by Co Clare businessmen Sean Lyne and Noel Connellan - which owned the freeholds of The Bot, The King's Head, Madison's hotel, The Globe and The Northern Whig and leased them to Botanic Inns, which is unaffected by the move.

The total number of properties now listed by Nama in Northern Ireland and the Republic is 1,119.