UK's Battersea power station sold by NAMA
THE UK's iconic property development, Battersea power station has been put on the market by NAMA.
The 40-acre site (inset) in London could net as much as £500m (€600m).
The return would have to be shared between NAMA and other lenders to the project -- Lloyd's Bank and property investor Victor Hwang.
Administrators Ernst & Young took control of the site from former owner Real Estate Opportunities, a company controlled by developers Johnny Ronan and Richard Barrett.
Dublin-based Treasury's interest in Battersea was held through its majority stake in Real Estate Opportunities.
REO, a UK-listed company whose acquisition of Battersea in 2006 for close to €600m was part-funded by the Bank of Ireland, had its loans transferred to NAMA in 2010.