Ownership and Sale
Despite the extravagant nature of the property it was viewed by local residents as somewhat of a 'white elephant' given the length of time the property had been for sale without finding a buyer. Originally put up for sale in 2005, as of July 2011 the estate had not been sold and was still on the market at the original price of £70m. During this period it was also used as a filming location for the TV series Episodes. In October 2011, the property was placed into receivership by the Irish state "bad bank", the National Asset Management Agency (NAMA). NAMA had paid £20million to the nationalized Irish Nationwide bank for the asset, taking over loans with an original value of £63m. In October 2011, it was announced that the property had been sold for £35m.
Read more about this topic: Updown Court
Famous quotes containing the words ownership and/or sale:
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—Federal Writers’ Project Of The Wor, U.S. public relief program (1935-1943)
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—Friedrich Nietzsche (1844–1900)