DublinGazette JANUARY 16-22, 2020
EDUCATIONFORLIFE: See our supplement for a wide range of great education-related matters and content to consider SEE PAGES 13-19
SPORT ATHLETICS:
Tallaght AC’s sprint queen Rhasidat Adeleke on her next moves after the Leaving Certificate. SEE P28
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THE LATEST NEWS & SPORT FROM SOUTH DUBLIN COUNTY COUNCIL AREA
Anger as cuckoo fund buys 229 local homes PADRAIG CONLON FIRST-time buyers will be denied a chance to buy almost 300 homes at one of the local area’s newest developments. This is after housebuilder Cairn Homes recently announced the sale of 229 residential units in Shackleton Park, Lucan to a cuckoo fund owned by a Wall Street financial giant. These so-called cuckoo funds, described as such because they are seen to elbow in
and push first-time buyers out of the market, are Private Rented Sector funds backed by institutional investors. The homes are being sold for €78.75 million to a special purpose company managed by Carysfort Capital and funded by Angelo Gordon, a US based global alternative investment manager. The development, which consists of a mixture of apartments, duplexes and houses, is part of one of Cairn’s biggest residential schemes consisting of 1,000 homes.
The practice of selling homes to cuckoo funds, who then rent them out, is becoming more common in this country and this is the latest in several such deals. The behaviour of cuckoo funds in Ireland has even drawn the ire of the United Nations. In an accusing letter to the Government last year, the UN special rapporteur on housing Leilani Farha said that “financialisation of housing” here is making Irish housCONTINUES ON PAGE 2 ing unaffordable.
Residents rally to save Clondalkin convent
AN estimated 300 people attended a rally last Sunday afternoon in Clondalkin to protest the construction of a nursing home on the convent site in the village. The rally was organised by local group Save Clondalkin Convent Campaign, a coalition of residents’ associations and community groups fighting against the plans by developer Bartra to build a four-storey nursing home on the historic site. SEE PAGE 3