Register of Deeds 2007 confirms Michael Kelly (Glandore Partnership), as the legal owner – and last time it was checked he was still the registered legal owner. He is/ was a director of nine companies: Glandore House (IRL) Limited, a construction company, was liquidated in December 2011, but does not hold the mortgage for Hume St. Another two have been struck off. His address is now in Belfast.
The property was purchased with AIB loans. Plans were submitted in 2008 for a serviced office centre, with restoration of existing protected structure and new six storied development at the rear. Heritage report and plans were by a very highly respected Grade 1 conservation architects. It was granted permission but with 17 restrictions including two floors lower.
Full planning description
Heritage Impact report
elevations
plans
After the vandalism it was first believed that the property was with NAMA, or very close to going there as it was above €20 million. A person in the agency informed AIB of the vandalism and subsequently the campaign was in touch with someone in the NAMA department of AIB. May 30th 2011 it was informed in writing that NAMA do not have the loan. Confirmation also from a very recent source:
“Please be advised that the Agency is not in ownership of the loans in relation to this property”
Last November AIB brought Michael Kelly to court for €60 million in relation to Hume Street. At that time AIB agreed to a conditional six-month stay on registration and execution of the orders (see Irish TImes Article ).
The following links may be of interest if a property’s loan is with NAMA:
NATIONAL ASSET MANAGEMENT AGENCY ACT (NAMA) 2009 – Power of entry to protect value or condition of land or buildings.
Nama is subject to The CODE OF PRACTICE FOR THE GOVERNANCE OF STATE BODIES
www.namawinelake.wordpress.com is a blog dedicated to Ireland’s property crash, well worth a look.
