Government ‘intervention’ pulls Westport House from Nama sale

Westport House in Co Mayo has been left out of the latest sale from Nama's loan portfolio.

According to a media report the Government intervened to ensure the stately home, which is in the Taoiseach's Mayo constituency, was not included in a bundle of properties code-named Project Arrow, which are believed to be worth €6.25bn.

Nama has been criticised for naming US fund Cerberus as the preferred bidder to buy the loans.

Cerberus is currently being investigated by the FBI and was also the buyer of controversial loans in the North. The loans in the North have been dubbed Project Eagle and are the subject of ongoing UK criminal and parliamentary probes.

Minister for Tourism Michael Ring told the Irish Independent he believes that Mayo County Council want to buy the debt in order to keep Westport House, a local tourist attraction, in public ownership.

“I’ll continue working with the council and hopefully we can tie this up in the next few months,” said Ring.

“This has to be maintained in public ownership for the tourism sector and the benefits it has for Westport, Mayo and Ireland. The Government is looking at how to hold on to historical buildings and this certainly one to be protected.

“It cannot be allowed to go into private ownership.”