Nama to finish building Anglo HQ?

 

AROUND the Block hears that the Nama is prioritising the completion of the skeleton office block on Dublin’s north docks that had been earmarked as a headquarters for Anglo Irish Bank.

The agency is considering completing the development itself and has already been contacted by the German company that manufactured the cladding that was to be used for the building’s exterior; the cladding, ready for erection for a couple of years, was custom-made. Three bidders, either as buyers of the site or potential tenants, have so far emerged. The Central Bank’s interest is well-known, while Bank of New York Mellon has also shown interest. The third possible bidder remains a mystery.

Nama is understood to be frustrated that the skeleton framework is seen by all those international investors coming to and from its office – owned by Johnny Ronan and Paddy McKillen – on Grand Canal Street. The structure is said to be available for purchase for about €5m, even though about €40m had already been spent by Liam Carroll getting it to its current condition.

Hard to believe these days that Anglo had committed to paying rent of €101m over the lifetime of its lease of the block.