SPORTS CLUBS & LOCAL COMMUNITIES
RENT OR BUY CHEAP NAMA LAND

If you are active in your local community, or you are part of a sports club, it may have ocurred to you that there are plenty of good uses for NAMA controlled land in your area, such as soccer pitches or an athletics facility.

Recently the GAA announced plans to buy or rent NAMA land in order to build a new 25,000 seat stadium in Dublin, as well as two sporting "centres of excellence".

If you are interested in finding out if you can rent or purchase land in your area that you think may be controlled by NAMA, you should first consult the Property
Enforced listing issued by NAMA in July 2011 and recently
updated.

Athough the list will not always contain
the exact address of the land or properties, if you contact the receiver indicated on the Property Enforced
list, they will pass on your query to the sales agent. You should contact the receiver by email, as NAMA have agreed with all the receivers that email is the primary method of dealing with all enquires from the general public.

If the land is not on the list, but you suspect that it is controlled by NAMA, you can email NAMA and they may pass your query onto the owner of the land. NAMA will not provide any details about ownership, or even confirm or deny a controlling interest, regarding properties and lands that do not appear on the Property Enforced listing.

NAMA has an agreement with owners of lands and properties whose loans they have control over, that if the owner is meeting his/her loan repayment schedule with NAMA, then they may be able to sell or rent through normal sales methods. If this is the case, you can approach the owner directly with your proposal.

It does appear likely, given low growth forecasts for the next decade (or two) that some tracts of NAMA controlled land and property will remain unused and unsold for a considerable time. Even if your local community or sports club has limited finance available, it does seem that any reasonable offer to rent or buy will be considered carefully by the owner and/or NAMA.

This summary is based on recent articles in the Irish Times and Irish Independent Newspapers.

If you would like to receive our NAMA newsletter, with the latest information regarding the properties now under the control of NAMA, please subscribe to our newsletter by using the form above.



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