Daft Property - Irish Property News

Nama declines to issue list of art collections to be auctioned... A NUMBER of valuable artworks seized by the National Asset Management Agency from property developers are to be put up for auction in the coming months. However, Nama has declined to provide a list of the art collections it has acquired, saying only that it was “keenly interested in getting best prices for the works”. Last month, the agency published a list of assets it had for sale but it made no reference at that time to the various art collections seized from developers who own billions to the banks. While the agency will not name the individuals involved, it has already seized the art collection of Derek Quinlan – a former tax inspector turned property speculator, and resident of Shrewsbury Road, Dublin 4 – who moved to Switzerland in 2009. It is expected other collections assembled during the boom will come under Nama’s control in the months and years ahead as the assets of other developers and companies a...

New mass sale in autumn... More property auctions are on the cards as owners seek fast sales in an uncertain market. KNIGHT FRANK is the latest estate agency firm to enter the mass auction market with plans to to hold a sale of 30 to 40 homes on a single day in the autumn. The company, which specialises in prime Dublin and country property, is currently scouting for suitable homes to include in an auction scheduled for October. The two auctions held by the Allsop/Space partnership, in April and earlier this month, have shown that there is a market for distressed properties at knockdown prices. Allsop/Space plans to hold a third auction in September with over 100 properties, the vast majority of which are being sold by receivers and banks. Savills is also planning to hold a distressed property sale in the autumn and is believed to be in negotiations with banks to sell their distresed stock. However, Knight Frank sees an opportunity in selling homes for owners rather than for ban...