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Friday 1 December 2023 Dublin: 1°C Tenants who live in the Cruise Park housing estate.
cruise park

Tyrrelstown residents want immediate protection from vulture fund

Ruth Coppinger has called for the government to intervene.

AN ACTION GROUP has been set up by the residents of a housing estate in Tyrrelstown, Co Dublin who are facing eviction.

Tenants formed the group at a meeting last night.

Earlier this week the Sunday Business Post reported that over 200 families renting in the Cruise Park area of Tyrrelstown could be evicted due to a deal between Goldman Sachs and indebted property developer Twinlite.

The newspaper said the notices were issued after Goldman Sachs purchased an €89 million loan from Ulster Bank that Twinlite had secured on the development – a sale the Irish company had unsuccessfully challenged in the High Court.

Dozens of families were told in recent weeks that their leases will not be renewed following the sale of 103 houses in the area.

The action group is calling for protection for all tenants against vulture funds. It plans to hold a demonstration outside the Dáil on Tuesday. The group will meet at the Mansion House before marching to Davy Stockbrokers and then Leinster House.

Government intervention

Local Sinn Féin councillor Paul Donnelly the latest letter from Twinlite provided “relief to some of the tenants”.

“The decision not to sell the 50 apartments and that the rest of the homes not issued with termination letters will now not have their leases terminated for at least 18 months has been welcomed.

However, while I welcome those assurances, it is clear the commitments are not strong enough to reassure those who have got a termination of their tenancy that they won’t end up in homeless accommodation.

Donnelly wants a written assurance from Twinlite that it will not act on the termination of the tenancies “until all families have secured appropriate housing”.

He said tenants who have not received any termination of leases letters to date “are still anxious that at some stage [their homes] will be sold” and want “immediate action”.

Anti-Austerity Alliance TD Ruth Coppinger was also at the meeting. She said the government “must intervene to keep people in their homes, to acquire vulture funds and distressed properties and allow people get affordable mortgages or remain renting”.

Read: ‘It is devastating’: Residents of Dublin estate facing ‘mass eviction’

Read: Residents in Cork face mass eviction from homes

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