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This is the heady days of July 2007 - the last moments of time prior to the crisis and Gordon Brown leadership – first when Irish Tycoon Derek Quinlan and joint venture partner Glenn Maud announced a property agreement that would rock the city.

Quinlan and Maud revealed they had won the race to buy Citigroup to Canary Wharf of Royal Bank of Scotland Tower for ￡ billion. The agreement was the second most ever grand United Kingdom, behind only the sale of the headquarters of HSBC a few weeks earlier.

He confirmed growing awareness of the Celtic Tiger on the market of commercial property London central key. Two-and-a-half-years, however, and the Tiger is police. Citigroup agreement was the peak of the Ireland influence, and a peak which is unlikely to be reviewed for years, even decades to come. Following €85bn (￡ 72bn) bailout the Ireland European Union last month, industry sources are preparing for London empire the Ireland start the workflow.

The collapse of the global credit markets and the Ireland economy took a heavy impact on reputation growth was fueled by an increase in debt supported by banks hungry country property investors.

Ready property for an amount of €90bn are now taken under control - sometimes with opposition - the National Asset Management Agency Irish Government, which was created for the work of distressed debt. Group was established in 2009, but only became fully operational this year, collection of the principal to determine a strategy for lending its debtors business plans.

The task facing the organization seem monumental with Earth related to income-generation loans 69pc sites development, according to research by the Sunday Telegraph. Group has a stated goal loanbook by 25pc over the next three years-reduction and also broadcasts € to invest in its assets, but the conduct process could take a decade.

How behaves the Nama is essential in London and the United Kingdom because its assets 30pc in Great Britain. A British company who met the directors of group property recently Executive says is "preparing to act" and has "clarity of purpose" he puts forward British banks in the workflow process. The surety of the EU-out, said the source, provides NAMA keeps the roof and the flexibility and the fact that loans were purchased at a net reduction - an average of the first instalment 58pc - means it doesn't have to worry about suffering losses from disposals agree below the book value of properties.

Group has not publicly stated that its policy on assets abroad are different from those in Ireland - and he refused to answer questions of telephone and E-mail in the Sunday Telegraph. But sources believe assignments in London are likely to be targeted quickly because the bullish market liquidity.

Citigroup Tower is already for sale, after Maud and Quinlan was encouraged to seek elimination by the Union of the lenders, which includes the group, which provided the agreement 875 million to ￡.

Analysts believe that it was ￡ with goods belonging to Irish in London, although a large part of it, including Hamley Street Regent, which belongs to the family toys store behind Brennans bread, is not in the group.

Organization revealed not publicly assets are part of its mandate, but they seem to include the Connaught, Berkeley, and the hotel Claridge-McKillen although, owner, is legally difficult to transfer debt NAMA-Battersea Power Station, the Goldman Sachs to the Tribunal of the River, Louis Vuitton, New Bond Street, owned by Daly and 20 Grosvenor Square flagship store European headquarters accompanied by a former U.S. European HQ marine, which is supported by the Irish national debt.

Some elements of assets are already be unloaded, as Audley square parking in Mayfair, which belonged to Quinlan. Group means agreed to sell the site holding Qatar EUR 180 million for leaving them with a benefit healthy company after buying the Irish Anglo loan for EUR 40 million. The site has planning consent for residential system 220 000 sq. ft. and agreement highlights the demand for assets with development potential.

Demand for these goods in London Harm Meijer, property JP Morgan analyst means the market could be "absorbed" sales group without asset values are amortized.

"The evidence that we are witnessing is that some major buyers are now ready to watch high quality", he said. "The United Kingdom average transaction volumes are about ￡ e per year." I think we could go higher than next year. ?

Rob Corbett, head of the Irish investment United Kingdom at Jones Lang LaSalle, pointed out another potential impact in the conduct of bubble property Ireland - the disappearance of two key drivers for the market of property for the pre-2007 British, Irish investors and Irish banks such as the Ireland, Anglo Irish Bank and the Irish.

"I would like to say decreased 99pc activity of buyers," Corbett said.

However, the central London investment market is powered on. Last week, Hammerson Oman investment fund sold Bishops Square 557 million from ￡, more than 25pc assessment office building last year. "There is so much equity hunt in London at the moment, says Corbett.".

Nevertheless, the conduct of the Irish asset is defined as a key for the real estate market in 2011 and beyond. In 2007, Quinlan and co had market dancing to Irish flute, but next year the noise of the Irish investors threatens death walking as they leave the active London trophy.

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