The Clare Champion Clare news, sport, entertainment and local notes
NAMA has published a list of properties subject to enforcement action by the agency, including 30 properties in Clare.
In the publication, Nama stresses that even if a specific property address is listed it does not mean the entirety of the property is subject to enforcement.
Of the Clare properties, Eleven of them are in Ennis, while there are others in Doolin, Kilkee, Killaloe, Kilrush, Lisdoonvarna, Newmarket-on-Fergus, Shannon, Westbury, Whitegate, Belharbour, Sixmilebridge and Liscannor.
Among the items included on the list are Whelan’s Quarry at Kilrush and Daragh; Garran na Coille, Shanaway Road, Ennis; Cluain Ros Leamhain, Roslevan, Tulla Road, Ennis; certain units at Kilkee service station, certain units at Brú na Sionna in Shannon and an unnamed hotel in Liscannor.
Development has not commenced on 11 of the properties subject to enforcement and three are described as agricultural land.
Its 2010 annual report last week stated that there are 850 debtors in Nama, three of whom have loans of over €2 billion.
While Nama made an operating profit, before impairment charges of €305 million up to December 31, it encountered impairment charges of €1,485 million, recording an overall loss of €1,180 million. It made an operating profit of €91 million in the first quarter of 2011.
Along with the annual report, an update to July 2011 was provided, which states that since the end of last year, Nama has acquired another €1.1 billion loans, bringing its total acquisition to date to €72.3 billion. It may also acquire up to €2.4 billion following an engagement process that is currently underway with debtors whose loans haven’t yet been acquired.
Local auctioneer Diarmuid McMahon said that while the local property market might be subdued at the moment, making a long-term investment in land might suit some people.
“At the moment the prices have gone below construction cost, but it might suit some people who have money on deposit to take a speculative view and buy land at a very reasonable price, looking at what value it could have in 10 or 20 years time.”
