1.

What is Grant Thornton's role in relation to part of the Eden complex in Blackrock
in Cork? Can you outline a little about the background - who owned it previously and
how Grant Thornton came to be involved.
Michael McAteer was appointed as Receiver by IBRC on the 18 November 2010, the
instruction as Receiver encompasses a total of 127 units plus undeveloped land within the
wider Eden scheme which has c. 300+ completed units.
2. What number of properties are under Grant Thornton's remit? I understand it could
be up to 100 properties in total.
127 units within the Eden scheme are in Receiver control.
3. As I understand it, mid-year last year residents received notice of rent increases of
approx 25%. Why?
Rents during 2015 (the process started April 2015) were realigned to market rental levels
and tenants were all provided with adequate notice on same. A number of rental increase
cases were lodged by tenants to the Private Residential Tenancies Board (PRTB) and in
each case the rent increase was upheld. The PRTB confirmed all requests for increases
were in line with Market Rental levels.
4.
In January this year, residents tell me they received notice to quit with the statutory
notice given. Why did a situation arise where only several months after increasing rents,
residents are then asked to move out? Can you outline EXACTLY who has bought the
apartments, and what steps were taken to try and keep people in their homes?
In advance of the Receiver issuing notice to tenants, the Receiver waited until the
amendment of the Residential Tenancies Act was enacted in December 2015. This act
increased the notice periods to be provided to tenants thus ensured the maximum period
was provided in cases where vacant possession was sought.
Notice to terminate tenancy was provided to 35 tenants on the 21 January 2016 and 20
units have since been vacated. The remainder will become vacant over the coming
months.
5.
Some residents have complained to me that even though they may have secured
other tenancies within the notice to quit period, and been in a position to move out earlier,
they were being asked to pay the full 6-8 week rent - can you confirm this?
The Receiver's office has facilitated extensions for some tenants in extraordinary
circumstances and has also facilitated tenants seeking to vacate early in circumstances
where they have found alternative accommodation. In such circumstances tenants are
only charged rent pro rata.

6.

What will happen to these properties in future?

Lisney Estate Agents based in Cork has been appointed as the sales agent and any tenants
who have shown interest in purchasing their property have been directed to Lisney. The
properties, as they become vacant, will be brought to market for sale by private treaty and
advertised on myhome.ie / daft.ie.