NAMA to sell €3.5 billion of loans and property assets

NAMA, having already agreed the sale of its Northern Ireland portfolio, is selling more than €3.5 billion worth of loans and property assets in the Republic which includes Project Redwood, a €200 million portfolio of commercial assets in Dublin.

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NTMA to hold Bond Auction on 8th May

The National Treasury Management Agency (NTMA), which manages the national debt, announces that it will hold a bond auction tomorrow, 8th May. The auction will be conducted on the Bloomberg Auction System and will be confined to recognised primary dealers. A non-competitive auction for 15 per cent of the amount sold in the competitive auction will immediately follow and will close at 10:00 am on Friday 9 May.

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Retail Ireland urges Government to cut income tax

Retail Ireland, the national representative body for the entire retail sector, in advance of a conference in Dublin today, has called on the Government to cut income taxes, promote better regulation for the sector and do nothing to add to business costs and claimed that the sector has the potential of creating 40,000 new jobs in the sector in coming years.

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Ikea’s plan for ‘flagship’ store in Cherrywood will not proceed

Ikea , the Swedish household goods multiple, will not be permitted to proceed with its plans for a new 35,000sq m “flagship” store in the Cherrywood area of south Co Dublin. Depending on the outcome of a joint study by the council, the NRA and the National Transport Authority , the council could “at some stage in the future” vary the planning scheme for Cherrywood by including provision for a “large-scale retail warehouse”.

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€130m for Nama Acorn Portfolio

Joint agents Bannon and JLL have been appointed to handle the first single lot sale of a NAMA shopping portfolio comprising Blackpool Shopping Centre and Retail Park in Cork, Millfields, Balbriggan, Co Dublin and The Showgrounds, Clonmel, Co Tipperary, at a guide price of more than €130 million. At that valuation, the portfolio will show an initial yield of about 9.6 per cent.

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Retail Sales Recovery Continues

There is mixed commentary when it comes to the CSO published yesterday.

Retail Ireland, the Ibec group that represents the retail sector said CSO figures for retail sales in March were very disappointing and showed no change in sales in shops around the country. In fact, core retail sales volumes, excluding motor trade, rose by 2.6% in the first quarter while overall volumes rose by approximately 9%.