Thursday 15 November 2018

Ronan in legal action over €35m land sale

Developer Johnny Ronan
Developer Johnny Ronan
Ronald Quinlan

Ronald Quinlan

Developer Johnny Ronan has issued High Court proceedings against a Nama-appointed receiver over the proposed sale of a prime residential site capable of accommodating 400 new homes near Foxrock in south Dublin.

The Sunday Independent understands Ronan is claiming in his action that he and his family are being denied access to legal rights of way they have enjoyed for decades across the lands that are now being sold as part of the €35m 'Brennanstown' portfolio.

The 29.4-acre site, which is being sold on the instructions of Declan McDonald of receivers PwC had previously formed part of a wider land portfolio Ronan began assembling in the 1980s. The developer remains the owner of a significant holding adjoining the lands that are now for sale.

Efforts to contact the Nama-appointed receiver for comment on Ronan's initiation of legal action were unsuccessful.

A spokesman for Nama declined to comment.

Located between the affluent suburbs of Cabinteely and Foxrock, the portfolio comprises a total of 18.3 acres of residential development land and 11.1 acres of forestry land. The site has the potential to deliver over 400 new homes and some 600 sq m of commercial space.

Sunday Indo Business

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