Dubious goings on in Charleville:
Cork County Council has asked An Garda Síochána to investigate a land deal where the council agreed to buy 20 acres for €11.6 million at a time when the land was allegedly available for €8 million, writes Colm Keena, Public Affairs Correspondent
The Irish Times has learned that the council entered into talks over the land with two bank executives in October 2005, when the executives had not yet agreed to buy the land from property company Pushkin Developments.
Pushkin was seeking €8 million for the 20 acres of zoned land in Charleville, had engaged a selling agent, and had placed advertisements in the national press.
Permanent TSB branch manager in Cork Denis O’Reilly and Cork area branch manager Brian Cremins signed the contract with the council. They, and any partners they may have, stand to make a €3.6 million profit if the deal goes ahead. The contract for purchase was signed in April last but the sale has not been closed. It is not unusual for purchasers of property to engage in a sub-sale.