OFFICALS from the National Assets Management Agency are this week continuing to trawl through accounts and records relating to a significant number of Donegal properties.
As we first reported last month, they assess their next move on a ‘substantial’ number of commercial properties.
Insiders say the officials have spent a huge amount of time over the past three weeks assessing properties in Letterkenny in particular.
The officials are compiling reports on the futures of each property and their estimated value on the open market.
These include partially completed buildings, properties where business has ceased and commercial premises which are continuing to operate in administration on behalf of the banks.
Letterkenny has been badly hit in the downturn with several high profile premises being run in administration.
The NAMA officials need to decide which properties can be sold quickly as going concerns and which need to be updated – or even knocked down.
One source told us today: “These (NAMA) guys are thorough but very professional. They have to assess, for example, what a hotel is worth today in the current open market. That’s not easy.
“The result of all this work will be seen in the coming weeks and months when a large number of properties will come on to the open market.”
The NAMA officials are also carrying out assessment work in Inishowen, Donegal Town, Ballyshannon and Gaoth Dobhair among other places.
