Nama receives €42m from sale of Dublin docklands office blocks

Agency nets 20.5% share of Ballymore and Oxley’s €205m Dublin Landings deal

The Dublin Landings scheme occupies over one million square feet on North Wall Quay.

The Dublin Landings scheme occupies over one million square feet on North Wall Quay.

 

Nama has secured just over €42 million from the €205 million sale by Ballymore and its Singapore-headquarterted partners, Oxley, of two blocks at Dublin Landings.

The State agency’s share of the proceeds from the sale to the Central Bank of blocks 4 and 5 at the Dublin docklands scheme was disclosed in a recent announcement Oxley released to the Singapore stock exchange.

In a statement issued on October 24th last, the company confirmed its subsidiary, Oxley Docklands Quay Two, had completed the the deal for the buildings at final sales prices of €98.6 million and €106.5 million respectively. Oxley said it had received 79.5 per cent (€163,054,500) of the sale’s overall €205,100,000 proceeds while Nama subsidiary, National Asset North Quays DAC, had received the remaining 20.5 per cent (€42,045,500) balance. The €205 million paid by the Central Bank for the properties does not include value added taxes.