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Fears over NAMA sale of Moore St Rising site

DUBLIN City Councillors have called on Minister for Arts Heather Humphreys to intervene in any NAMA sale of Moore Street properties.

Recent reports have suggested that a loan portfolio connected to retail properties owned by developer Joe O'Reilly's Chartered Land is to be sold.

It is thought that the sale being brokered by Eastdil Secured is worth around €1.4bn.

The portfolio, dubbed Project Jewel, includes the Dundrum shopping complex and 50pc stakes in the Ilac Centre and the Swords Pavilions centre.

It also includes a retail site in Dublin central that stretches from Moore Street to O'Connell Street.

Chartered Land was granted planning permission to build a shopping complex on the site in 2010.

The 1916 Moore Street Advisory Committee of Dublin City Council has expressed concern that the sale will see the stalled development go ahead.


At Monday night's Dublin City Council meeting, an emergency motion was passed by the full council to call on Humphreys to intervene in the sale in the public interest.

However, in a statement, a spokesperson for the department said that the minister would not be consulted, nor could she intervene, in NAMA dealings.

Her responsibility, the spokeswoman added, was to develop the commemorative centre at Number 14-17 Moore Street, which the Government has agreed to acquire.

Discussions regarding the transfer of the National Monument site to the State is nearing completion she said.

John Connolly Heron, the grandson of one of the leaders of the 1916 Rising, James Connolly, has also spoken out on the issue recently.

"It's a dangerous time for Moore Street," he said.

"We want this area to be removed from the auction and taken out of the Project Jewel Portfolio."

NAMA and Chartered Land did not respond to a request for comment on the issue from the Herald.