Friday 23 August 2019

Pictured: Landlord's houses - previously home to up to 40 people - for sale for over €3m

  • Landlord tells Independent.ie 'I am finished with rental accommodation'
  • However, house in Rathmines still being rented to up to 20 people
  • Four houses in Clontarf up for sale for over €3,000,000
  • Debts of €2.85m secured over the four houses - according to latest accounts filed for one of his businesses
The houses at Howth Court and inset Jim Cuddy
The houses at Howth Court and inset Jim Cuddy
No. 3 Howth Court. Picture: Ganly Walters Estate Agents
No. 3 Howth Court. Picture: Ganly Walters Estate Agents
No. 3 Howth Court. Picture: Ganly Walters Estate Agents
No. 3 Howth Court. Picture: Ganly Walters Estate Agents
No. 3 Howth Court. The garden at the rear of the property. Photo: Ganly Walters
No. 3 Howth Court. Plan for the basement. Photo: Ganly Walter
No. 3 Howth Court. First floor plan. Photo: Ganly Walters
No. 3 Howth Court. Ground floor plan. Photo: Ganly Walters
Amy Molloy

Amy Molloy

A BUSINESSMAN whose four houses were previously rented to up to 40 people at a time is now trying to sell the properties for over €3,000,000.

James 'Jim' Cuddy claimed he is "finished with rental accommodation after 28 years as a landlord" and has put the four semi-detached houses, located on the Howth Road in Clontarf, up for sale.

However, Independent.ie has learned that another house owned by Mr Cuddy on Leinster Road in Rathmines is currently being rented to up to 20 people.

We revealed earlier this year how between 30 and 40 young Brazilian women were living there and Dublin City Council ordered the property to be vacated.

No. 3 Howth Court. Picture: Ganly Walters Estate Agents
No. 3 Howth Court. Picture: Ganly Walters Estate Agents
No. 3 Howth Court. Picture: Ganly Walters Estate Agents
No. 3 Howth Court. Picture: Ganly Walters Estate Agents
No. 3 Howth Court. Picture: Ganly Walters Estate Agents
No. 3 Howth Court. The garden at the rear of the property. Photo: Ganly Walters
No. 3 Howth Court. Plan for the basement. Photo: Ganly Walter
No. 3 Howth Court. First floor plan. Photo: Ganly Walters
No. 3 Howth Court. Ground floor plan. Photo: Ganly Walters

It is understood the property is now overcrowded again.

"Everybody got evicted and one week later the house was filled again. It is still going strong right now with a lot of people. There is even a young girl living there with her mother, she couldn't be older than 12 years," a source told Independent.ie.

A spokesperson for Dublin City Council said it is "aware of this property and confirm that Environmental Health Officers have scheduled an inspection."

Rathmines 2.jpg
One of the overcrowded rooms in the house on Leinster Road, Rathmines, also owned by James Cuddy

When asked about the property on Leinster Road, Mr Cuddy said: "Rathmines will be up for sale very shortly with vacant possession. This is my last property as a landlord."

When asked if it is still being rented and overcrowded, he said: "I can assure that was never the intention and if that's the case it will be sorted out immediately.

"I have it leased to a person for twelve months with the very clear understanding just 2 people per bedroom with no deviation. There is a family there whose children go to school locally."

He did not respond to questions about who the property is currently leased to or how many bedrooms are being rented in the house.

Rathmines house 2.jpg
An overcrowded room in the house on Leinster Road in Rathmines

Howth Road

A collective deal for the four houses on the Howth Road had been agreed but it has since fallen through, according to Ganly Walters, the estate agents handling the sale.

"The property has in recent years been rented out and requires some minor refurbishment to return it to its former glory," the advertisement for one of the houses reads.

Two of the houses, no 1 and 3 Howth Court, are advertised at prices of €850,000 and €900,000.

The estate agent confirmed the other two houses have been valued at similar prices, meaning a collective sale would bring in around €3,500,000.

Overcrowding

Independent.ie previously exposed how Mr Cuddy was raking in thousands of euro cash-in-hand from renting the properties.

Up to 40 tenants in each of the four houses were paying €300 per month in rent to live there, meaning each house could have been generating around €12,000 each month - or €144,000 per year.

Mr Cuddy said he leased all the houses to a property management company and allowed them to do "whatever they like" with the houses.

He claimed he is no longer in business with this management company.

"No, I am certainly not," he said.

The rooms in the houses had been crammed with bunk beds and up to 10 people slept in some of the bedrooms.

Dublin City Council issued fire safety notices in respect of no 1, 2 and 3 Howth Court after our investigation and ordered the properties to be vacated earlier this year.

Debt

The businessman, who it is understood lives in Co Cavan, is presently director of three Irish companies: Crossagalla Management Company, Irish International Abrasives and Cuddy Industries Limited.

The latest accounts for Cuddy Industries Ltd, filed last November, show how Mr Cuddy had debts of €2.85m secured over the four houses on Howth Road and a personal guarantee of €2.88m by Mr Cuddy himself.

That means that if the business cannot repay the bank, the properties would be forfeit and Mr Cuddy would also be liable for any shortfall.

When previously questioned about the overcrowded conditions in his properties, he said: "There is nothing unusual about this... sure what happens when you have 40 kids in a school... I’m sure they could move out if they wanted to."

He insisted there was no breach of any regulations.

II 2 leinster .jpg
Bunk beds in the overcrowded house in Rathmines were visible from the roadside earlier this year. It is understood a number of tenants are still living in the house Photo: Damien Eagers

 

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