Dublin Docklands Development Authority makes final offer to management of Longboat Quay

The Dublin Docklands Development Authority has written to the management of the Longboat Quay apartments with an offer of financial support for the cost of the repair works needed.

In a statement the DDDA has said it understands that the Receiver over the assets of Gendsong Limited - whose interest includes 18 apartments in the complex - will also be making a substantial contribution towards the remediation works.

The combined amount will come to approximately €2.75m.

The estimated cost of the work to bring the Longboat Quay apartments up to fire prevention and safety standards is €4.75m.

The Dublin Docklands Development Authority and a receiver will contribute 58% of this - leaving roughly €2m to be financed by management and apartment owners.

Dublin Docklands Development Authority statement in full:

The Dublin Docklands Development Authority [the Authority] has written to the Longboat Quay Management Company Limited with a formal final offer of financial support towards the cost of the necessary remediation works.

The Authority understands that the Receiver over the assets of Gendsong Limited, whose interest includes 18 apartments in the complex, will also be making a substantial contribution towards the remediation works.

The Authority’s contribution and the Receiver’s combined amount to approximately €2.75m, or 58%, of the estimated €4.75m cost of the work (undertaken to date and required) to ensure that the development meets all relevant fire prevention and safety standards and regulations.

This will leave an estimated €2 million to be financed by the Management Company and the apartment owners.