‘Repairs will cost me €9,500 over the next four years’
AN INVESTOR who owns an apartment in the Beacon South Quarter development has said paying the cost of the remedial fire safety and water ingress work will cost almost €10,000 over the next four years.
The apartment owner, who did not wish to be named, said that while a vote to pay for the work passed among apartment owners, there was anger they had been left to foot the bill.
“The amount that it will actually cost depends on the apartment and the work that has to be done.
“So the exact cost will be a little different for each apartment,” the investor told the Irish Independent.
“In my case the total bill will likely be around €9,500 over the next four years.”
The investor said there were concerns among owners that they may now not be able to sell on their apartments as a result of media coverage of the fire safety issue.
“These are problems that only became apparent when you moved in.
“In my case I had a very good engineer who looked at the apartment.”
Another owner said he believed the Government should establish a scheme to help property owners with issues that have arisen from Celtic Tiger-era apartments.
“I don’t think it is fair that we have to pay for this when it was the developer who should have been responsible.
“This was built when fire safety was self-certified and that is just not acceptable,” he said.
“This is not the only development where this problem has arisen, and I think there should be a scheme in place to help us.
“The Government was happy to take the stamp duty at the time.”