€100m Cork land sold for just €7m by Nama

A 450-acre landbank fringing Cork City and assembled at a cost of over €100m is being sold by Nama for about €7m.

Political and property commentators, as well as other prospective bidders, have queried the speed of the sale of the land between Douglas, on the southside of the city, and Carrigaline, given that it was never on the open market.

The land had been earmarked as a new location for Douglas Golf Club. The club was given a non-refundable €5m as part of the deal to redevelop the golf club as a housing development.