Early Decision to Sell The Laurels Welcome

A reasonable price tag for The Laurels apartment block should enable a willing buyer to carry out the required remedial works to the stricken complex according to Fine Gael TD for Dublin South, Olivia Mitchell.  

“I welcome the fact that an early decision has been made. Too many sites and half-finished buildings have been left in limbo and allowed to deteriorate. The receiver has decided that the works required to bring The Laurels up to a safe standard are not economically viable for the original lender bank which already has a huge debt owed to it.

“The high cost of repairs and the uncertain timeline has forced the lender to cut its losses and sell on for the best price it can get. Selling the complex at a price which would make the required remediation work financially viable for a new buyer is now the best option for all concerned.

“The alternative is impasse, a gradual deterioration in the condition of the apartments and the worst possible outcome for residents of Dundrum.”