Lugus Capital doubles its money on Cork flats

7th April, 2019
Peter Horgan

Lugus Capital, the sellers of the Cork apartment block where it issued families with termination notices in the run-up to Christmas, has sold the building to the state for double what it acquired it for.

Cork City Council and housing agency Cluid are paying €20 million for the 78-apartment complex at Bachelor’s Quay. Lugus bought the complex for about €10 million in 2017.

After acquiring the apartments, Lugus issued notice to tenants advising that...

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