Nama sells developer’s 125-acre Cork site

NAMA has agreed the sale of 125 acres of land at Curraheen, Co Cork, formerly owned by developer John Fleming, to the Munster Agricultural Society and University College Cork.

UCC and MAS have jointly acquired the farmland off the N25/ Ballincollig Bypass for an undisclosed sum, but are believed to have paid between €3 million to €4m.

It is first major Nama transaction in the South through the receiver and manager of JJ Fleming Ltd. The company’s Fota Island Resort is also due to come up for sale this year, with a guide in excess of €20m.