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Nama's headquarters in the Treasury Building
Nama's headquarters in the Treasury Building
Image: Sasko Lazarov/Photocall Ireland

Nama is selling a €100 million portfolio of business parks

The five properties are located around the country, with the most high profile in Carrickmines.
Jul 5th 2014, 8:00 AM 9,759 47

THE NATIONAL ASSET Management Agency is selling a portfolio of five business parks around the country with a price tag thought to be upwards of €100 million.

The most high profile property to be included is the Carrickmines Retail Park off the M50, with Poppyfields Retail Park in Clonmel and the Four Lakes retail park in Carlow also on the block.

The M1 retail park in Drogheda and Lakepoint Retail Park in Mullingar are also included.

All five will be on the market within the coming weeks, it is understood, as Nama seeks to offload large chunks of its property holding while interest in the Irish market remains high among international investors.

While an overall value of around €100 million has been pegged to the properties, a source said that the final price could be above that figure.

Apartments

Separately, it is understood that final bids are to be lodged next week on the largest-ever portfolio of Dublin apartments to be sold by Nama.

The sale will cover a total of 761 apartments spread across four mixed-use developments in the city.

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Strong bidding is expected for the properties, with bids of around €160 million from international players IRes, Kennedy Wilson and Hines in the offing.

The portfolio is comprised of residential units at Charlestown in Finglas, Lansdowne Gate next to Drimnagh Castle, Heuston South Quarter and Baker’s Yard in Dublin 1.

Nama is riding the crest of a wave at the moment, as international investment in the Irish commercial property market goes from strength-to-strength. A study released yesterday by CBRE showed that more capital is being ploughed into the sector now than at the peak of the property boom in 2006.

Read: There’s more money flowing into commercial property than at the height of the boom>

Read: Nama is selling the biggest-ever portfolio of Dublin apartments for €160 million>

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Jack Horgan-Jones

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