Marlet Property Group chief executive Pat Crean has told the High Court he was “committed” to the €37.6 million purchase of a 9.6-acre site from Dublin City University (DCU).
He refuted the suggestion by DCU’s senior counsel that Atlas Limited Partnership, a Marlet subsidiary, wanted to “get out of the deal” when the property market paused during the early stage of the pandemic.
Atlas is suing DCU seeking the return of a €3.7 million deposit it paid as part of the failed deal to buy the site at Hampstead, Glasnevin. The developer also wants the court to declare that the university was unable and unwilling to deliver title of the site.
DCU denies the claims, saying it at all times could sell the land, but Atlas was in breach of the December 2019 sale contract by failing to complete the purchase.
At the centre of the case are alleged title or “mapping” issues relating to a small portion of land Atlas has described as “critical” for the development team to access the site.
On Thursday, Mr Crean disagreed with DCU’s barrister, Paul Gardiner SC, that there was an alternative viable route to the site via the tree-lined Griffith Avenue.
Mr Crean said his development firm has many considerations when assessing potential access to a site, including traffic levels at peak times, potential blind spots on the roads, disruption to residents and the positioning of trees.
He added: “We can on paper go in and out lots of different ways… when you get to test it then, will it work?”
Mr Gardiner suggested Mr Crean “fastened upon” the proposition that this route was essential because the sale was no longer advantageous when Covid-19 hit and the markets came to a halt. Mr Crean did not agree with this.
“I was committed to the transaction,” he said.
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 clarified map issues raised by Atlas.
By the end of July 2020, the university's chief operations officer 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. Atlas contends DCU was unable to sell because it did not have sufficient title to a small area that was critical to the development potential of the site.
Atlas also claims the sale was at an end due to Covid-19. DCU has refuted this and asserted that Atlas acknowledged as part of the sale conditions that it had fully investigated the title.
