Bankrupt developer leaves €10m Dublin mansion to avoid forced eviction by Nama

Bankrupt property developer Thomas McFeely has moved out of his luxury home in advance of today’s deadline to leave the premises or face eviction.

All the blinds on the windows of the three-storey mansion on Dublin’s Ailesbury Rd — one of the most exclusive addresses in the capital — were closed yesterday with no sign of life inside the property.

It is believed the couple decided to take all belongings out of the €10m family home rather than run the risk of being physically ejected from the property.

The 64-year-old former IRA hunger striker and his US-born wife, Nina, were ordered to leave “Coolbawn” by the High Court last June after Nama was granted possession of the property from Aug 9.

The house, which was once the official residence of the German ambassador, was valued at €15m at the height of the boom.

It is understood that the McFeelys paid about €10m for the residence.

They bought it with a €9.5m interest-only mortgage loan from Irish Nationwide Building Society.

The High Court heard that the McFeelys had defaulted on the loan and more than €500,000 was outstanding in unpaid interest. Overall, McFeely owes about €200m to Nama following the collapse of his property development business.

Neighbours on Ailesbury Rd said removal vans had been coming in and out of the property over the past few days with the last trucks seen leaving around lunchtime yesterday.

One local resident said McFeely’s wife and one of their two youngest children who lived there were seen outside their home during the week.

The disgraced businessman was also spotted around the mansion early yesterday, although one resident had said he had not been seen in the area for some time.

In June, the High Court gave the family seven weeks to find alternative accommodation after Nama was granted possession of the property.

It is understood the couple still has a property registered in Ms McFeely’s name in Terenure, while they also appear to own a villa in Portugal.

McFeely was declared a bankrupt in the Republic earlier this summer after his attempts to be declared bankrupt in the UK were successfully challenged by a Dublin woman, Theresa McGuinness, to whom he owes more than €100,000.

The well-known republican, from Dungiven, Co Derry, unsuccessfully argued that he was a British citizen and had been living in London since 2009 — a claim rejected by courts in Ireland and Britain.

McFeely enjoyed a rare legal victory last month when he successfully challenged a three-month prison sentence imposed by the High Court over his failure to carry out work to make properties at his Priory Hall development in north Dublin safe.

More than 250 residents of Priory Hall are still living in temporary accommodation after Dublin City Council ordered them to leave their homes last October because of the unsafe condition of the buildings which were constructed by McFeely.

A spokesperson for the Priory Hall residents said they did not wish to comment on the departure of the McFeelys from their family home.

However, he added: “I don’t think McFeely is going to be suffering from the lack of somewhere to stay.”


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