Dáil Éireann Debate, Tuesday - 4 March 2014
31. Deputy Kevin Humphreys asked the Minister for Finance further to Parliamentary Question No. 82 of 19 February 2014, the price that National Assets Management Agency realised for the site of five acres on the Merrion Road beside Booterstown Nature Reserve when it sold it in March 2012, and what was the value of the underlying loan on the property at the time; and if he will make a statement on the matter. [10424/14]
View answerI refer the Deputy to my response 82 of 19th February 2014. As Minister for Finance, I have no role in relation to the day-to-day detail of NAMA's strategy. However, to be helpful, I outlined that the asset was sold by the appointed receiver after being openly marketed. A receiver has a legal obligation to the debtor to obtain the best possible price for any secured asset he or she sells. The marketing campaign included advertisements in the national press and generated significant interest from prospective purchasers. I am advised that the relevant local authorities were afforded an opportunity at the completion of the sales process to, in line with NAMA Board guidelines, match the highest offer received, however they chose not to do so.
It would not be appropriate for me to comment further on this transaction which was undertaken by a receiver.
