# What well known properties will come into State ownership?



## csirl (21 Apr 2009)

There has been some speculation in newspapers and on the internet recently about what properties will come into NAMA and effectively be owned by the Irish taxpayer. Some of these articles have speculated about well known landmark buildings overseas, most notably the UK e.g. shopping centres, offices, sports facilities.

Many of these properties are in current usage, some with high profile clients and generating income. I assume that NAMA will collect e.g the rental income from these properties? 

Anyone got any idea what "Trophy" buildings will be coming under NAMA control?


Also, has the Government considered the political implications of possible compulsory acquisition of some of these trophy properties? There is one property in particular in the UK that has been speculated upon which, if the UK public found out was being "compulsory purchased" by the Irish Government, there would be uproar. Though you can see the opportunity for offloading this type of property to the UK Government at an inflated price to please UK public opinion.


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## Sunny (21 Apr 2009)

Why would there be uproar?


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## csirl (21 Apr 2009)

British can be sensitive about properties they regard as being part of their national identity.


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## JonG (21 Apr 2009)

What's the 'one property in particular' you mentioned Csirl?

Jon


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## Protocol (21 Apr 2009)

I thought NAMA is just buying the loans, not the actual physical properties?


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## JonG (21 Apr 2009)

As I understand it, NAMA are buying the loans, but if the borrower can't pay back, they call in the security used for loan.


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## jhegarty (21 Apr 2009)

JonG said:


> As I understand it, NAMA are buying the loans, but if the borrower can't pay back, they call in the security used for loan.



The same as AIB or BOI would have.

Can't see what's changed from an ownership point of view myself.


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