Get Rich or Die Tryin'

dopester

Director sues over home revamp

Sheridan seeks €4m damages for alleged defects in property



By Tim Healy

Tuesday March 24 2009

FILM director Jim Sheridan has taken a €4m lawsuit against a number of companies involved in the revamp of his luxury seafront home.

Mr Sheridan and his wife Fran claim they are facing serious financial problems because of the allegedly defective works to their house in Dalkey, Co Dublin.

They are taking the lawsuit against companies involved in the project, including architects and structural engineers.

The couple claim the works have resulted in water seeping into their home over a number of years.

The Sheridans intended that their home, 'Martha's Vineyard', Coliemore Road, designed as a four bed-roomed house with its own seawater swimming pool, would be "one of the finest and most spectacular coastal properties in Ireland", the Commercial Court heard yesterday.

But they claim their attempts to sell it have been frustrated as a result of extensive water ingress which has resulted in substantial damage to the property.

They allege negligence and breach of contract.

Their €4m claim includes the cost of works to address the water problem and another €2m for the estimated reduction in the value of the property due to that problem.

Problem

The Sheridans claim they could have sold the house, which won an RIAI (Royal Institute of the Architects of Ireland) Architecture Award, for €7m in 2007.

However, two potential purchasers, who were aware of the water problem, pulled out because it was not resolved.

The couple claim they are now servicing two mortgages for "two exceptionally expensive properties" -- the Dalkey property and their other property at St Mary's Road, Ballsbridge.

If the Dalkey problem is not concluded soon, their financial position "will be unsustainable with very serious consequences", they said.

The Sheridans bought the Dalkey property, then a fisherman's cottage, in 1997 with the aim of developing a new house and rockpool on the site.

De Blacam's were formally appointed as architects in September 2000 and designed a four-bed house with its own seawater swimming pool. In 2002, Hollingworth were appointed project managers, and in 2003 an agreement was reached with Gilmac to build the house and pool for €2.2m.

The case, which was admitted to the Commercial Court yesterday, will be heard at a later date.

Full article here.

Perhaps they shouldn't have bought again before selling their existing home - or stretched themselves in 2 expensive mortgages to service.

Bought the fisherman's cottage in 1997 for... x-amount.. and then the new house and pool built in around 2003 at a cost of €2.2m.

And not just seeking the repair or even full rebuild costs but seeking "another €2m for the estimated reduction in the value of the property due to that problem."

So that would imply to me they believe those who they are bringing the case against have some liability over market forces for values, for them not successfully sell at a market-peak in 2007.

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their financial position "will be unsustainable with very serious consequences", they said.

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I bet they can still find money for the solicitors bill