Sinn Féin calls for property firm to suspend eviction notices in Tyrrelstown estate

40 families in one West Dublin estate development have already been told their leases will be terminated

property, business, tyrrelstown, estate

The Cruise Park housing estate in Tyrellstown. Image:

CORRECTION: An earlier version of this article said over 200 families fear eviction. This is incorrect.

Residents in a housing estate in Tyrrelstown have attended a meeting this evening to discuss notices to vacate their properties.

40 families in the Cruise Park area have already received notices that their leases will not be renewed when they expired.

Property firm Twinlite issued the notices to residents on February 29th.

Fingal Councillor Paul Donnelly hosted a meeting for residents this evening in Tyrrelstown.

Cllr Donnelly said, "at this evening’s council meeting I proposed a suspension of standing orders to deal with this urgent matter. I also called for the Twinlite property management group to publicly commit to a suspension of any eviction notices unless the tenants have alternative accommodation.

"Furthermore the Fingal County Council housing department must immediately establish a working group to put a plan in place to deal with any homeless cases that will arise," he added.

The Sinn Féin councillor said he was pleased that housing charity Threshold has also committed to working with the residents.

Ulster Bank sold the €89m loan which financed the Cruise Park development to a Goldman Sachs vulture fund in 2014, as part of the bank's Achill Portfolio.

This loan was granted to European Property Fund plc (EPF), which is controlled by Davy Stockbrokers and Twinlite owners the Larkin brothers.

A Sunday Business Post report suggested EPF's decision to sell was a direct consequence of the vulture fund's acquisition. However, Rick Larkin of Twinlite denied this is the case.

Speaking to Newstalk, he said the decision to sell 103 EPF properties in Tyrrelstown was made in early 2014, before the sale of the loan in October.

Larkin said EPF "object to being characterised as an arm of Goldman Sachs" and stated categorically that no other houses affiliated with EPF are set to be sold.

Twinlite said it will offer the properties to existing tenants before placing them on the market, and that some tenants have already agreed purchases, though some have been left feeling hopeless:

On Sunday, Transport Minister Paschal Donohoe said affected residents should be aware of their rights under legislation introduced last year, which forces all mortgage book buyers to comply with a code of conduct.

He criticised the issue of the letters to those living in Cruise Park as "inappropriate, unfair, and a [cause for] further unnecessary worry for them."