DRINKERS IN five of Belfast's best-known pubs will be raising a glass to Nama after the agency appointed administrators to two companies which hold the freeholds to the bars.

The National Assets Management Agency has appointed receivers to Lanyon Trading Ltd and its parent company Lisk Ltd which own the Northern Ireland premises.

The five bars - the Botanic Inn, the King's Head, the Northern Whig, the Globe and Madison's - are among some of Belfast's most popular pubs.

All of the pubs, which are leased to Botanic Inns Limited, will continue to operate as normal and the decision by Nama to appoint a receiver to the Irish companies will have no bearing on their day- to-day operations.

However, Pubs of Ulster, the professional body which represents the retail licensed trade in Northern Ireland, described the development as "worrying".

Colin Neill, chief executive of the body, said the fact that Nama had taken control of the five freehold properties would have no impact on the business of Botanic Inns.

Mr Neill though said he was concerned about the wider implications the move could have for the industry, which has been struggling in the North.

"It is the longer-term scenario which we have concerns about. At the end of the day, Nama is going to want to get its money out of this and there is a danger that if Nama decides to sell properties at any cost, then this could seriously undermine the sector.

"Our latest research shows that there are currently in the region of 300 pubs for sale in Northern Ireland out of a stock of 1,500 which is quite substantial, and we are aware that out of PUBthose 300, there are roughly 100 pubs facing closure," Mr Neill said.

Loans originating in the North currently account for just 5 per of the value of Nama's total loan portfolio.

The nominal value of the loans acquired in Northern Ireland is approximately £3.35 billion (€4 billion) and relates to 180 debtors.