Dáil Éireann Debate, Tuesday - 16 November 2021
226. Deputy Eoin Ó Broin asked the Minister for Finance the volume of development land in hectares currently held by NAMA or for which NAMA has an interest in tabular form; the amount of the land that has active planning permission; the number of residential units that are included as part of the planning permissions; and the number of these residential units that are currently commenced and under construction. [56075/21]
Amharc ar fhreagraAs indicated in my response of 2nd November 2021 to Questions 246, 247, 253, 265, 266, NAMA’s loans are secured by an estimated 638 hectares of land of which 426 of these hectares have residential zoning and will be suitable for residential development between now and 2035. 212 hectares are not currently zoned residential.
A breakdown of this land by planning status and unit capacity, along with details of units currently under construction, is contained in the aforementioned response which can be found at the following link: www.oireachtas.ie/en/debates/question/2021-11-02/246/.
For the Deputy’s convenience, the relevant elements are reiterated below.
Land Assets
I am advised that NAMA debtors and receivers own an estimated 426 hectares of land that is potentially suitable for residential development in Ireland between now and 2035. It should be noted that only 63 hectares of this land has planning permission; the remaining 363 hectares does not yet have planning. Table 1 sets out the size, unit capacity, and local authority area of residential land with planning permission securing NAMA’s loan portfolio. This data excludes sites which are currently under construction or where funding is approved for construction (circa 1,500 units). NAMA regularly assesses the feasibility of sites with planning permission and, where development is deemed commercially viable, NAMA provides funding for the delivery of new residential units on the sites.
Table 1: Sites with planning permission
|
Local Authority Area |
Potential Units |
Site area (hectares) |
|
Cork County Council |
24 |
4 |
|
Dublin City Council |
199 |
3 |
|
Dún Laoghaire-Rathdown County Council |
745 |
14 |
|
Fingal County Council |
411 |
15 |
|
South Dublin County Council |
817 |
15 |
|
Wicklow County Council |
549 |
12 |
|
2,745 |
63 |
Table 2 details residential zoned land without planning permission owned by NAMA debtors and receivers. This data includes sites where planning permission is lodged, being prepared or which are subject to pre-planning and feasibility assessments. The development of the majority of sites in Table 2 can only occur over the medium to long term.
Table 2: Sites without planning permission
|
Local Authority Area |
Potential Units |
Site area (hectares) |
|
Cork County Council |
300 |
32 |
|
Dublin City Council |
7,400 |
94 |
|
Dún Laoghaire-Rathdown County Council |
720 |
7 |
|
Fingal County Council |
4,751 |
136 |
|
Kildare County Council |
1,340 |
37 |
|
Meath County Council |
415 |
9 |
|
South Dublin County Council |
110 |
10 |
|
Wexford County Council |
436 |
15 |
|
Wicklow County Council |
219 |
23 |
|
15,691 |
363 |
Additionally, NAMA holds security over 212 hectares of unzoned land which is not yet included in any local authority development plans.
NAMA expects to directly deliver a further 2,000+ units from its secured portfolio.
Table 3 illustrates NAMA’s delivery potential based on the viability and profile of the remaining sites with planning permission in NAMA’s portfolio. I am advised that delivery of the 2,000+ units in the first 2 rows, (a) and (b), where it is indicated that funding is approved or under consideration, will be extremely challenging. NAMA’s objective is to make the sites under (d) and (e) as shovel ready as possible by achieving planning before disposal. The sites under (f) will only likely become available post-2025, but it is important to asset manage them between now and then by trying to resolve infrastructure and zoning, and ultimately planning.
Table 3: NAMA Residential Delivery Pipeline
|
NAMA delivery potential |
Details |
No. of Units |
|
a. Under construction (600 units) or with funding approved (900 units) |
1,500 units |
|
|
b. Planning permission granted and funding under consideration |
800 units |
|
|
Future delivery by private developers |
c. Planning permission granted but will be sold or refinanced by debtors |
2,000 units |
|
d. Planning applications lodged and under consideration by the planning authorities |
800 units |
|
|
Long term (post-2025) |
e. Planning applications being prepared |
3,200 units |
|
f. Longer term potential subject to viability, planning, various infrastructural requirements and zoning |
11,700 units
|
|
|
Total |
20,000 units |
|
