A resolution has been reached in a dispute over a failed sale of a Dublin City University (DCU) site for €37.6 million.
Declan McGrath SC, representing developer Atlas Limited Partnership, a subsidiary of Marlet Property Group, told the court he was pleased to confirm that the case has been resolved and could be struck out.
Ms Justice Eileen Roberts congratulated the parties on finding a “very sensible outcome”. No details of the settlement were disclosed.
Atlas had sued DCU seeking the return of its €3.7 million deposit it paid as part of the failed deal to buy the site off Griffith Avenue, at Hampstead, Glasnevin. The developer had also asked the court to declare that the university was unable and unwilling to deliver title of the site.
DCU denied all of the claims, saying it could at all times sell the lands but Atlas was in breach of the December 2019 contract by failing to complete the purchase.
The sale was originally supposed to close in January 2020, but this did not occur as DCU dealt with issues about transferring part of the lands and clarifying map issues raised by Atlas.
By the end of July 2020, DCU said, Atlas complained of significant legal points and mapping queries but failed to identify what the issues were.
In August the university formally asked Atlas to complete the sale within 14 days.
At the opening of the case earlier this week, Mr McGrath, for Atlas, said there were “errors” in the provided maps and site boundary documents that were the fault of DCU. A small portion of land that was critical for access was located within the physical boundaries of the site but outside the conveyance map, he said.
Atlas contended DCU was unable to sell because it did not have sufficient title to a small critical area. Countering, DCU asserted that Atlas acknowledged as part of the sale conditions that it had fully investigated the title.
