Deal For Bulk Purchase Of Homes In Maynooth Called-Off.

Thursday, 15 July 2021 09:36

Agreement between developer and Round Hil Capital won't proceed.

A deal, which enabled the bulk sale of 135 homes in a Maynooth housing estate to an investment fund, won't proceed.

The Irish Times reports that 115 of those homes, in Mullen Park, will now be brought to market, in phases, between now and 2022.

Kildare County Council was among the parties interested in buying homes in the estate, which is under construction.

Maynooth new homes back for sale as deal with UK investor called off https://t.co/3D9KYpd9N9 via @IrishTimesHome
— Irish Times Home (@IrishTimesHome) July 15, 2021

It was, however, prevented from doing so by the bulk purchase, which was understood to be for a sum in the region of €53 million.

The Irish Times reports that "it was apparently the sheer strength of public feeling on the matter that is understood to have informed the move."

Following news of the sale earlier this year, new legislation was passed imposing 10% stamp duty on bulk purchase of 10 or more homes in any given development - except of those homes were to be leased to councils or housing bodies for social homes.

Labour Cllr., Angela Feeney, joined Clem Ryan on Thursday's edition of Kildare Today

O’Brien welcomes new plan to sell Mullen Park homes to individual buyers. A plan to sell 115 houses to a global investment fund has been called off, reports @obraonain. https://t.co/QkQoyo0nzl
— Business Post (@businessposthq) July 15, 2021

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