In today's Observer there is an article Ireland's property entrepreneurs relinquish their London trophies on the impact of the financial problems of Ballymore and other Irish speculators and developers.
It mentions Ballymore:
"Ballymore has 63 sites around the capital, including half a dozen residential towers in Docklands.
Accounts recently filed showed the company was £1bn-plus in the red. A source says that the debt level is now around the £750m mark, with "around 75%" of that – £562m – in Nama. The source says Ballymore is confident that it can restructure and survive the Irish crisis because of the quality of its sites and that it hopes to "be out of Nama within three to five years. Fears have been expressed that Nama, which is charged with clearing Ireland's debt mountain over seven to 10 years, could end up destroying property values by flooding the market. The impression has gone around the world that you can bag a bargain from the Irish."
Ballymore's precarious financial position is also hitting the headlines in Ireland: Irish Times Article
I wonder how all this affects our Brentford town centre development?
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