NAMA to gross €90m from London deals
Published 30/11/2011 | 05:00
Nama is reported to have agreed four deals which could generate around €90m. from the sale of London properties. Two of the properties, formerly owned by Ray Grehan, are in the Isle of Dogs.
One of these is a development site where Grehan had planned to build a 62 storey apartment block. It has been bought by a Lebanese developer for around €50m. The other Grehan property is a block of 128 flats, known as The Forge, which has been sold for around €40m.
Meanwhile in Croydon, south London, an office development site, which had been owned by Anglo-Irish client Magnet Property Investment, has been sold for around €3.5m.
The buyer, Abstract Securities, plans to develop a 100,000sq ft office block on the site. According to website NAMAwinelake, NAMA has approved the sale to date of properties grossing a combined €4.6bn.