Northern Ireland

Nama place Kennedy Group properties in receivership

More properties which were owned by the Coleraine-based Kennedy Group have been placed into receivership by Nama.

The seven properties were owned by three different companies and are located in Antrim, Portstewart and Londonderry.

Earlier this month the Irish state 'bad bank' took control of the group's Ramada Hotel in Coleraine.

At that time Nama also appointed receivers to properties held by some other Kennedy firms.

The latest receiverships concern ACI Developments, Waterside Crescent and Kennedy Investments.

The ACI Developments assets are four parcels of land close to the Junction One centre in Antrim.

That company's main asset, a business park on the Ballymena Road, had already been placed in receivership by Nama.

The Waterside Crescent assets taken by Nama are two retail warehouses on Strand Road in Derry.

The Kennedy Investments properties are adjoining sites on The Crescent in Portstewart which have planning permission to build 24 apartments.

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