Longboat Quay: Residents face 4m euro bill over fire safety failings

In a statement, a spokesman for the residents said the situation has now reached “crisis point” as the owners do not have the money to pay.

On Thursday, the NAMA Chief Executive, Brendan McDonagh, told the Dáil’s Public Accounts Committee that there were previous issues relating to the same debtor who developed Longboat Quay, Bernard McNamara.

Meanwhile, residents living in yet another apartment complex built during the Celtic Tiger boom are to meet with lawyers and the local council tomorrow amid concerns their homes also pose a fire safety risk.

The combined amount will come to approximately €2.75m.

“Dublin Fire Brigade has written to the Management Company, Dublin Docklands Development Authority (DDDA) and the Receiver to advise that it needs to see a plan that commits to carrying out the necessary remedial works in a short time scale”.

State bad bank Nama has spent €100m to date tackling “fire hazards” across its portfolio, it said.

It would cost up to €11m to complete the repairs, after which the properties would go on the market.

An owner and former resident of an apartment in the Longboat Quay complex in Dublin Docklands has said the Government has an obligation to help the owners and residents of the apartment complex.

The DDDA said it had already spent €1m carrying out fix works, and would provide another €1.75m in “new” money with the receiver, Grant Thornton. Currently, the DDDA is the nominal landlord for the common areas. It is understood that the offer is final, and not subject to negotiation.

“This will leave an estimated €2 million to be financed by the Management Company and the apartment owners”.

The Dublin Docklands Development Authority has offered to pay over half of the cost of fixing major fire-safety problems at Longboat Quay. The terms and conditions attached to this offer are equally unacceptable. There is also a dispute over the full cost of what has to be done to make the building safe.