Residents to net €36m in ‘unusual’ joint sale

EIGHTEEN north Dublin cottage owners are set for a €2 million windfall each after putting their homes jointly up for sale.

The 18 owners of Meakstown Cottages in Finglas are set to net over €2m each in a joint sale to a land developer.

Five years ago some of the residents of Meakstown secured a High Court injunction preventing the construction of a temporary halting site for Travellers.

But since then land prices in the area have soared and the cottages are expected to fetch around €36m overall, with each home being sold for three times its current value. Residents expect to get at least €2m each, which would be €1.5m above the estimated value of €500,000.

The joint deal would see the entire village of 18 cottages and one bungalow sold to a developer who is expected to demolish the homes and apply for permission to build apartments on the eight-acre site.

One of the residents, Sean Whelan, explained that during the summer they got leaflets in their door with an offer from a company called Remax, who also approached developers. It is understood that Remax plans to approach residents in other estates in Dublin with the same plan.

A spokesperson for Fingal County Council described the group sale as “unusual”.

In 2001, the Meakstown Residents Association had sought an injunction against Fingal County Council to halt the construction of a temporary halting site.

High Court Justice Liam McKechnie found in favour of the residents.