Brian Stanley (Laois-Offaly, Sinn Fein) | Oireachtas source

I will go back to the loan sale. I preface what I am about to say with an apology as I know everything is easy until you go about doing it. This would not have been the easiest portfolio that NAMA dealt with. I acknowledge that. We have established today that it happened in one county, Donegal, and that an individual owned two companies on which loans were taken out. There was intimidation regarding the same individual to do with a sale in Britain 11 years ago. This surfaced again. I know the argument about the sale price and value and I acknowledge the sale price of €265,000. I just want to clarify this. There were 14 occupied residential units. To make a rough calculation, if we assume rental income from those to be €850 per month, we are looking at a figure of between €600,000 and €700,000 per year. Is that right? We are looking at 14 units. I have not brought out a calculator. This figure is off the top of my head but there are 14 units and we will assume a monthly rent of between €800 and €1,000, which would be at the bottom of the market. That gives €11,000 or €12,000 per month, multiplied by 52.