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THE FORMER IRISH Glass Bottle Company site in Ringsend, Dublin is among the new additions to the National Asset Management Agency’s list of properties which are now subject to enforcement action.
Placing a property subject to enforcement order means that NAMA is preparing either to sell the asset or to rent it out, in whatever way would raise the most return for the agency and for the taxpayer.
A spokesman for NAMA said receivers appointed to the companies controlling each property would make a commercial decision on what the most lucrative option would be for each property concerned.
NAMA had appointed receivers to Becbay Ltd, the company which holds the title on the 25-acre undeveloped site, last month.
Blogger NAMAwinelake summarised last month that Becbay had spent €100 million decontaminating the site and making it ready for development, but that it now valued the site at only €30 million – some 7.2 per cent of what was paid for it in the 2006 deal.
The site is not listed as being currently for sale, however, indicating that the site may be considered as a possible location for the new National Children’s Hospital, as several newspapers reported last month.
The iconic Docklands site was sold by Dublin Port Company to a consortium including Bernard McNamara and Derek Quinlan, as well as the State-owned Dublin Docks Development Authority, for €412 million in 2006.
The size of the deal – in a deal considered by many to be the epitome of the property boom, with a price of just under €16.5 million per acre for the site.
A NAMA statement accompanying the list of properties subject to enforcement action said the total value of the NAMA properties which are up for sale is now over €1 billion.
The Irish Glass Bottle site is one of 44 properties added to the list in March.
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I’m disgusted with Met Eireann , no drizzle warning issued this morning , I went for a walk in the Phoenix Park and wasn’t prepared at all . Now I’m mildly damp . I’m lucky to have survived .
I’m still waiting for that “polar vortex” they promised. My tins of beans are starting to go off.
I have a vacuum cleaner in the house you can have if it’s any help as it’s just gathering dust.
Next we’ll be getting warnings about the warnings. Someone in Met Éireann loves their new toy far too much.
Was thinking same thing. Some one having way too much fun with theses warnings. It will soon be a case of the boy who cried wolf !
Loved the headline, “HISTORIC STORM EXPECTED TO HIT NEW YORK”.
As I said to my missus, “How can it be historic, it hasn’t bloody happened yet”.
“HYSTERIC HEADLINE TO HIT IRELAND” would be a good forcast for this winter. We have had our share.
Weather’s not been bad though.
Let’s cut to the chase. Is it gonna be in Dublin?
Hopefully for you not in Kildare as you won’t be able to find your sheep
Actually more likely to be Horses as there are a large amount of Studs in Kildare….
There mustn’t be too many studs, all the women come up to Dublin.
@Stephen…Are those studs the two legged version or the four legged version?
Hey ewes
Sno snice to snee snow.
3CM …..OMG thats over an inch in fact worse nearly an inch and a quarter rounded up were in for two inches of snow YIPPEE
Unfortunately many industries that rely on accurate weather forecasting don’t use Met Eireann. While I like the idea of having our own forecasting system and enjoy the presenters we need to move on towards a much more accurate and localised weather forecasting service for Western Europe and that is best achieved by integrating our Met Eireann service with the UK and Europe. I know many will not appreciate these thoughts but when vital industries subscribe to international weather services its time to overhaul our own inaccurate service. Btw does anyone know how much Met Eireann costs and how much does it earn from subscribers.
There full of wind.
Where?
Der! Can yew naught sea dem?
Ok….so they’ve given us a snow/weather warning….me thinks I’ll just get my shorts ready…normally opposite happens so I’m expecting a HEATWAVE!!!! Woo hoo. Getting the BBQ out now as I speak!!!
And we will still panic just as much as the ppl of New York! The cheek of us!
If we got what they got in New York we would be talking about it for 50yrs – and at a standstill till next week
3CM versus 3 FEET?
We as a nation can’t cope with snow…
Seems like the amount of snow due for New York was slightly exaggerated but get this. We have just had 4 inches in just 2 hours ! 4 inches of peanuts eaten from the feeder that is, plus a full days ration of sunflower hearts and the fat/seed mixture is getting some welly from the birdies too. Caught two mice in traps last night so they are heading in for a bit of heat too and I guess we are in a little cold spell of our own, never mind NY NY :-)
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