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Bank to fund Belfast office development | 21 June 2013

The National Asset Management Agency (Nama) has announced that it is to provide the funding for a set of Belfast office blocks, according to kildare-nationalist.ie.

The bank is to lend out £15 million to the project at Lanyon Plaza and The Soloist. It claims that the money is being providing to help enhance Northern Ireland and the value of its assets. Development work had been held up in recent years, due to ‘market conditions’, according to those at Nama.

Nama chairman, Frank Daly revealed the funding when he spoke to the Northern Ireland Assembly and Business Trust in Dublin this week. According to belfasttelegraph.co.uk, he said: “The agency is committed to providing more funding to debtors based in Northern Ireland.”

Daly added: “We would urge debtors to share their proposals with us, as we want to fund projects that can deliver a strong commercial return.”

International law firm Pinsent Mason has already been confirmed to let office space in The Soloist building, which is set to be completed next year. It is also thought that a government agency is set to take office space in the Lanyon Plaza.

Nama is said to have approved £87 million in sales in Northern Island since it was set up in 2009.

The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.

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