Spencer Dock fees total €12m in over four years

Spencer Dock area

The amount paid out in professional, management, and receiver fees for the receivership of Treasury Holdings’ main Spencer Dock firm now total €12.4m for work for more than four years.

This followed €2.77m in fees having been incurred in the latest six-month period of the receivership, including €145,509 in receivership fees.

David Hughes and Luke Charleton of EY were appointed by Nama as receivers to various retail units, undeveloped sites and part-developed sites owned by Spencer Dock Development Co Ltd in late January 2012. 

The amount paid out to EY in receivership fees now totals €803,888 since 2012.

The new documents show that Nama received a €2m payment from the receivership of Treasury Holdings’ main Spencer Dock firm in the latest six-month period.

The receivers’ extract lodged with the Companies Office show that €4.6m was realised from the sale of 13 properties between January 26 and July 25.

The receivers generated €4.2m in sales from 11 properties in the previous six months.

The prices secured for the properties developed by Spencer Dock Development Company Ltd reflect the buoyant property market in Dublin.

One sale realised €450,000, while the other properties went for €350,000 and €400,000. 

The costs of the receivership remain high, however, with €2.63m paid out in professional fees between January and July.

Some €2.17m in professional fees was paid out in the previous six-months.


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