The 250-acre property that once belonged to ex Taoiseach Charles Haughey is expected to go up for sale in the next few weeks, according to newspaper reports today.
Abbeville in Kinsealy, north Dublin, is expected to go on sale with a price tag of between €5m and €10m – a far cry from the €45 million which the now deceased Haughey sold it for nine years ago.
Despite facing anything up to a 90% price cut, the sale of the property is necessary after the company that owns it went into receivership.
Mr Haughey, who died in June 2006, sold the property and stud farm in 2003 in order to pay a settlement to the Revenue Commissioners.
It was bought by Joe Moran’s Manor Park Homes, who subsequently went into receivership after Bank of Scotland Ireland sought to recover outstanding debts.
Now Savills have been selected by receiver Tom Kavanagh to sell the property although no listing is expected for a few weeks with no indication as yet as to an actual asking price.
It is also unclear at this time whether the sale will be carried out by private treaty, public tender or by auction.
Manor Park had sought to build a golf course, a 70 bedroom hotel and some villas and townhouses on the site but the property crash prevented them from doing so.