The Irish Republic's National Asset Management Agency (Nama) has been slammed for failing to take steps to protect historic buildings owned by developers whose multi-million euro loans have ended up in the State's 'bad bank'.

A statement from the Royal Hibernian Academy (RHA), published in the Irish Times and signed by its President, architect Des McMahon, four former presidents, 23 members of the academy and five associates - described this "conduct of omission as in itself an act of vandalism . . . totally inappropriate in this day and age".

They said they were "extremely alarmed at the continued deterioration of our architectural stock of historic and conservation merit", such as the former Hume Street Hospital, which adjoins the RHA gallery at Ely Place, recently stripped by thieves.

The artists accused Nama of "not taking its legal responsibility seriously in regard to appropriate protection of several historic buildings currently under their ownership" and said its "response to our approaches to them . . . has been evasive and ambiguous".

In response, Nama sent a letter to the secretary of the RHA "not admitting that they owned such properties and not making any commitment to safeguarding them", according to Mr McMahon.

He said the issue had been raised at the academy’s April meeting and “the general view was that if this was a painting or piece of sculpture, there’d be no question of them saying that they only own the loan attached to it, not the painting or piece of sculpture”.

Referring specifically to Nama, he said: "There should be no ambiguity whatsoever about a body that's technically our national agency taking steps to protect our national architectural heritage. And as I understand it, they are legally obliged to do so."

A spokesman for Nama reiterated the agency had merely "acquired loans which are often secured by properties, but it has not acquired the properties themselves. Therefore, it is incorrect to say that Nama has a direct responsibility in this area.

"Nevertheless, where the agency is aware that a debtor is not honouring their responsibilities in this area, the agency has directly taken action with the property owners or with the relevant authorities to try to ensure that the properties are properly secured," a spokesperson said.

(BMcC/GK)