Pearse Doherty (Donegal South West, Sinn Fein)
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292. To ask the Minister for Finance his views on the situation at a shopping centre (details supplied) in County Cork, in which the National Asset Management Agency has an interest, where many units are vacant, and former tenants, who were never offered a rent abatement, are being pursued for mounting debts; and if he will make a statement on the matter. [18555/15]

Michael Noonan (Limerick City, Fine Gael)
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As previously advised, as Minister for Finance I am happy to respond to questions on general policy matters relating to NAMA. However it would not be appropriate for me to comment on individual assets that secure NAMA's loans or on commercial arrangements between private parties.

On the more general point, the Deputy will note that NAMA does not own or manage commercial properties.  NAMA's role is that of a secured lender and in that capacity it ensures the efficient management, occupancy and sale of properties securing its loans with the view to maximum loan repayment. To date, NAMA has generated €20 billion in total cash receipts through asset disposals and a further €5 billion in non-disposal income, mainly rental income from properties held by its debtors and receivers.

The Deputy will also note that NAMA has introduced a rent abatement initiative, details of which are available on its website, .  Under this initiative, which has been widely publicised, NAMA has approved rent abatements with an annual value in excess of €23m.  To date, less than 3% of applications have been unsuccessful.  In addition, NAMA has approved long-term rent reliefs worth more than €40m to small and medium retailers throughout the country.

The Guidance Note underpinning NAMA's abatement initiative is available on NAMA's website, . As advised to the Deputy in my response to Parliamentary Question 202 (27/01/15), if any tenant considers that his or her landlord is not engaging with them in accordance with the Guidance Note they can contact NAMA directly at and ask that NAMA look into the matter on their behalf.