A TD has raised questions in the Dáil about property developer Johnny Ronan and the National Asset Management Agency.

Richard Boyd Barrett of the People Before Profit Alliance raised questions about the sale of a site in Dublin.

He told the Dáil he had been given a folder of documents on Monday in relation to the sale of a site at Spencer Dock.

Mr Boyd Barrett said the site was owned by CIE, and originally developed by Treasury Holdings, of which Mr Ronan was a director.

He said under the original NAMA act, developers were not supposed to get their own sites back.

"That site is now commencing development again", the TD said.

"The original developer was Treasury Holdings, and it was reported that Johnny Ronan of Treasury holdings was the preferred bidder when that site was put out at the market at a guide price of €50m." 

Mr Boyd Barrett said he had a number of questions about the deal.

"The first question I have is, Johnny Ronan exited NAMA paying off his €250m debt. He now has the site again."

He also said the guide price for the site was €50m, but comparisons for similar sites on the open market were about €20m per acre.

Mr Boyd Barrett said the site was worth "about €120m and not the reported €42.5m euro that Ronan, backed by Colony, and investment fund reportedly paid".

He said he had asked NAMA for confirmation of this, but could not get that confirmation.

"If that's true, if the comparable prices per acre are accurate, then it means we have sold a site worth

€120m for €42.5m.

"That's shocking and the developer who has it, is the developer who originally went into NAMA when Treasury Holdings were taken over by NAMA," he added.