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NAMA to gross €90m from London deals

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.

Irish Independent