Council and housing agency buy controversial apartments in Cork city for €20m

The housing agency Clúid, in conjunction with Cork City Council, has bought a 78-unit apartment complex from an investment company for €20 million, which will be used for social housing and for rent to the private sector.

Notice to quit had been issued to residents in late 2017, however some tenants remained in the complex despite a determination by the Residential Tenancies Board that they must leave. James O’Halloran, business manager at Clúid, said that the purchase represents a major milestone for the association.

Mr O’Halloran told RTÉ’S Morning Ireland on Friday that to build the complex would have cost €25million to €26 million so the purchase represented very good value.

Source: Real Estate Daily Report (realestatedailyreport.net)

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