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:
“They had their fortunes to make, everything to gain and nothing to lose. They were schooled in and anxious for debates; forcible in argument; reckless and brilliant. For them it was but a short and natural step from swaying juries in courtroom battles over the ownership of land to swaying constituents in contests for office. For the lawyer, oratory was the escalator that could lift a political candidate to higher ground.”
—Federal Writers’ Project Of The Wor, U.S. public relief program (1935-1943)
“I hate this shallow Americanism which hopes to get rich by credit, to get knowledge by raps on midnight tables, to learn the economy of the mind by phrenology, or skill without study, or mastery without apprenticeship, or the sale of goods through pretending that they sell, or power through making believe you are powerful, or through a packed jury or caucus, bribery and “repeating” votes, or wealth by fraud.”
—Ralph Waldo Emerson (1803–1882)