Updown Court, £75 million property.

[beanie]

Would if you parked it on a heated driveway. The 1000bhp is a bit tricky once you get to the public road but that's what insurance is for.

You'll have your silage drawn in no time.


Anyone ever heard of this place before? Irish Nation wide are involved to the tune of £14m, Posh mansion's starring role in film -- and Nationwide swindle - Irish, Business - Independent.ie
Which bank gave the £40m?

[Astral Peaks]

No mention of a scullery, I'm not interested!!!

[drummed]

Probably got a tracker from the TSB, everybody else did.

[EvotingMachine0197]

Sold for €40 Million.

NAMA sells off €40m UK house to Indian executive - Irish, Business - Independent.ie

[Libero]

Interesting spin on this from the Irish Independent: "The agency took a profit on the house after substantially discounting the original loan purchased from Irish Nationwide, which was a major backer of the property. At one stage the building society held a board meeting at the mansion.It is understood that anything above €20m would leave the agency in profit on the sale, although it declined to comment yesterday."

Of course, as Namawinelake points out, it's not an overall good result for the Irish state (at least not so long as the state stops the bank loan losses falling on bank bondholders)... " The sale price is reported to be GBP 35m (€40m). It had previously been reported in the press – though naturally not confirmed by NAMA – that NAMA had acquired the underlying loan for the property for GBP 20m (€23m). If the reporting of the sale price and the NAMA-acquisition price are accurate, then NAMA will have generated a profit of GBP 15m (€17m) before costs. Of course Irish Nationwide Building Society has suffered a massive loss on the original loan, but at least NAMA seems to have done its job."

[EvotingMachine0197]

More info here

So, original loan was €71 million.

NAMA sale price €40 Million.

Loss to taxpayer = €31 Million. (assuming nobody else takes any of the hit)

Is that about right ?

[He3]

More info here

So, original loan was €71 million.

NAMA sale price €40 Million.

Loss to taxpayer = €31 Million. (assuming nobody else takes any of the hit)

Is that about right ?

Britain's tackiest house

Give or take.

Paid your house tax yet?

We all partied.