Treasury Holdings wants the Government to appoint a third party to negotiate with potential overseas investors in Irish property portfolios.

It says that such an appointment will secure the best deal for NAMA and the tax payer.

In a statement Treasury - which is currently involved in a series of legal actions against NAMA - said that a range of potential investors had expressed an interest in Irish property with some making bids for portfolios. These investors had also been interested in some Treasury loans.

However, none of these bids moved to the point where they accepted by NAMA.

The statement said that three bids have been made for Treasury loans over the past 18 months. '''These were from serious foreign investors and would have helped kickstart the Irish commercial property market and start the development of badly needed high end office accommodation,'' today's statement said.

Treasury said that while none of the bids were accepted, it knows that the bidders remain out there and are willing to engage. ''All have offered to buy the loans at a higher value than NAMA paid for them,'' it continued.

Treasury says that an independent third party mediator, of the Government's choice and with experience of major property deals, should be appointed to negotiate in detail with foreign investors to as to secure the best deal for the tax payer.

It says that if some deals were approved it would result in profits for NAMA, re-establish market values here, facilitate foreign direct investment into the property market as well as protect jobs, including the 300 that work for the Treasury Holdings Group in Ireland.