Whilst cogitating the ramifications of NAMA, it occurred to me that Manor Park Homes had bought Abbyville, the former Haughey estate, for something between, it has been estimated, 40-50 million Euro. It would appear that there have been planning difficulties and the site, though original planning was granted in 2006, to this date, remains undeveloped.
Given that NAMA is triggered for loans, performing and not, at 5 million Euro, is it too far to speculate that the property is Mortgaged to one, or several, of the guaranteed Banks and thus will come, in short order, within the prevue of NAMA?
It would be rather interesting, if not, to some, disturbing, that the State bale-out mechanism would, in effect, be guaranteeing the estate of the disgraced former Taoiseach to the tune of 40 million Euro, or so.
Of course Manor Park Homes could have had the cash to purchase the estate, though that is unclear and possibly unlikely. It is something, in my own personal opinion, that warrants further investigation.
Any reporter just arrived home from the pub, if viewing, is welcome to do a little further digging!