Re: Re: Eglinton Street Tower, Cork

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From today’s Sunday Business post, full story is here. Flynns must be ruing the day they didn’t try to sell the apartments off the plans when they announced it given the prediction is for a further 10% fall in values next year.

Court battle over country’s tallest building in Cork city
16 December 2007 By Ian Kehoe and Neil Callanan

Two of the biggest property development companies in the country are embroiled in a multimillion euro High Court battle over the planned tallest building in Ireland.

Cork-based O’Flynn Construction is suing Howard Holdings in a dispute over access to Elysian, a 17-storey tower block being built in Cork’s docklands.

O’Flynn Construction is the developer behind the €150 million tower, which – at 71metres high – will be Ireland’s highest building. The Cork company claims that it agreed with Howard Holdings to buy an adjacent site, which is crucial for access to Elysian. However, a dispute has broken out over the sale.

O’Flynn Construction, headed by Michael O’ Flynn, now wants the High Court to force Howard Holdings to sell the site. The matter is due to return to court in January. Greg Coughlin, the chief executive of Howard Holdings, has filed an affidavit.

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