Nama close to sealing deal to sell off Anglo's unfinished Docklands :
Sunday October 23 2011
THE hulking carcass of Anglo Irish Bank's unfinished headquarters in the Dublin Docklands may be close to changing hands.
Sources have indicated that US bank BNY Mellon and five other parties are vying to buy the skeleton building from Nama, with a deal expected to be announced in coming weeks.
The former Anglo HQ was developed by developer Liam Carroll but work on the building stopped abruptly when rival developers challenged its legality. Nama subsequently took control of the building when the economy collapsed.
The Central Bank has also expressed an interest in moving operations to the site.
Property sources have estimated that the partially finished structure could change hands for €5m, but that upwards of €30m will have to be spent to finish off the building works.
The concrete hulk of the building has become a potent symbol of Ireland's property and financial collapse over the past three years, with pictures of it appearing in international TV programmes and magazine articles.
Originally, Anglo provided the funding for the development to Mr Carroll's company, North Quay Investments, and was to rent part of the development as its intended new headquarters.