Business Irish

Sunday 26 January 2020

Fugitive Lynn's offices for sale

Two Dublin office units, previously owned by solicitor Michael Lynn are being offered for sale by receiver Martin Ferris of Ferris & Associates. A combined price tag of €995,000 has been placed on the units which are located within The Capel Building, Mary's Abbey, Dublin 7.

While both units have separate entrances and are self-contained, they are currently rconnected via an internal corridor. The accommodation extends to a net total internal floor area of 690sqm and come with six car parking spaces.

Michael Lynn is a fugitive solicitor who left debts of €80m in his wake and is now believed to be living in Brazil. During a property investment spree, he took out multiple mortgages on the same properties from several banks, using the money to shore up his crumbling empire.

On the cusp of the crash, he was developing apartment complexes in Portugal, Hungary and Bulgaria funded with deposits from investors.

Now HT Meagher O'Reilly, who are the sales agents for the receiver, describe Capel Building as a striking, state-of-the-art, mixed use scheme. Located at the junction of Mary's Abbey and Capel Street between The Four Courts and the Jervis Street Centre, the building is within easy reach of the Law Library, Smithfield and the Civic Offices. The unit are suited to a variety of occupiers including legal practitioners.

Capel Buildings was developed by Sean Kelly of Benton Property Holdings and the quality of its finish is immediately evident in the dramatic double height entrance foyer which is lit by a glazed central atrium.

The two units now for sale are easily accessible and benefit from two glazed doorways and a large display window overlooking the water feature.

Indo Property

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