Nama chief notes 'shocking' sale of 'rat-infested' property worth €10.3m for just €265K

Nama chief executive Brendan McDonagh said the land is currently subject to a vermin infestation and that the HSE had told Nama 'that they want to pursue whoever is responsible under the Rats and Mice Act'. Picture: Leah Farrell / RollingNews.ie

The head of Nama has admitted the sale of a “rat-infested” Donegal property subject to loans of €10.3m for just €265,000 is “shocking”, but insisted the agency had had no alternative.

The sale of the property, which consists of 14 occupied residential units and 28 unoccupied ones on a 21 hectare site, to a company owned by the brother of the original debtor, was raised by State’s accountant the Comptroller and Auditor General in his 2021 report on Nama's progress, saying what had transpired was “so exceptional” it merited mention.