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United Kingdom : NAMA brings to market land outside LONDON.

As it continues to sell its British portfolio, bad bank NAMA will make available a block of land outside London in the market.

The bank has selected CBRE to bring to market a 42.1 acre land in Taplow in South Buckinghamshire, nearly an hour outside London.

The site is being put on sale on behalf of Malcolm Cohen and Shay Bannon of BDO serving as co-administrators of Watchword Limited which is in management.

In a bid to recover some loans amounting to Au40m on the development, Irish Nationwide selected BDO as receiver at the location in 2009

From there the loans against the site were eventually transferred to the bad bank, seemingly at a discount of over 70pc.

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Publication:Mena Report
Geographic Code:4EUUK
Date:Nov 5, 2013
Words:132
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