Business Irish

Tuesday 20 February 2018

Anglo site still in spotlight

So now we know.

Property guru turned NAMA executive John Mulcahy (pictured) has finally explained the thinking behind the agency's sale of the unfinished Anglo headquarters in Dublin's IFSC to the Central Bank.

International film crews kept turning up at the NAMA-owned property, using the skeletal, abandoned building site as a handy visual aid to illustrate the fallout from the property crash, Mr Mulcahy told an audience of restructuring experts at an event in Dublin.

It was all getting a bit much, so NAMA hit on the idea of flogging the site to the Central Bank, who is in dire need of a larger premises.

Trouble is, the Central Bank has a fair bit on its plate and has not yet got around to actually doing anything with the building.

"We thought they would have started by now," Mr Mulcahy admitted ruefully.

It's not like NAMA to miss a trick, but maybe they should have kept the hulking wreck and charged those international film crews for access.

Irish Independent

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