Friday, October 05 14:10:08
Fifteen vacant flats in Drogheda, Co Louth held by NAMA have been sold to social housing charity, Tuath Housing Association for E1.4m, it was revealed today.
NAMA said it is working in partnership with the Department of Environment, Community and Local Government to identify through its debtors and receivers suitable houses and apartments for social housing provision.
The sale has also been facilitated by Drogheda Borough Council and Louth County Council, ensuring that the Borough Council secures sole nomination rights to the apartments for people on its housing waiting list for decades to come.
Speaking at the Irish Council for Social Housing finance seminar this afternoon, Jan O'Sullivan; Minister for Housing said: "The sale of these 15 units to Tuath Housing Association is a very welcome development. I'd like to commend Tuath, the local authorities and NAMA for bringing this sale over the line. The 15 units will make a tremendous difference to families requiring social housing in the Drogheda area."
The new initiative involves the purchase of fifteen apartments for social housing purposes at the flagship mixed use Scotch Hall complex in Drogheda for E1.4m. The majority of loan finance has been provided via the Bank of Ireland, with the State and the Association providing the remainder.
The initiative is the first of a number of schemes in the pipeline involving NAMA debtors and receivers and Tuath Housing which will be completed before Christmas. Within the context of its commercial remit, NAMA is committed to supporting the achievement of wider public policy objectives, including the area of social housing provision and works closely with Minister Jan O'Sullivan in this regard.