Nama is to knock down an apartment block in County Longford in Ireland. The move is the bank’s first order for the demolition of an asset.
The 12-apartment block on the Gleann Riada estate is unfinished, and has fallen into severe disrepair. The block, commenced by the failed Eassda group, is located on an estate where 80 out of 90 residential units are occupied. The demolition work will take place over the next three weeks.
A Nama spokesperson said: “Nama is involved with a relatively small number of so-called ghost estates, and our priority in those where we do have an interest is, first and foremost, to make them safe for residents.
“Where it is uneconomic to finish out an estate or a part of an estate, or if the local authority deems it to be structurally unsafe, we will invest our resources in demolishing the relevant structure and ensure that it is made safe for other residents. This will benefit residents of those estates and make the estate safe from a health and safety perspective.”
Nama is understood to be planning the demolition of six more derelict buildings by the end of the year, according to a report today in the Irish Independent.
sophia.furber@estatesgazette.com
