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A council deal to lease 87 homes in south Dublin is set to cost €35 million more than the cost of building them - and after 25 years it will have to hand them back.

Dun Laoghaire-Rathdown council has entered a €52.5 million deal to lease the homes from Realis, a German-based fund.

They are located in the Herbert Hill complex on the Sandyford Road and the deal has been made in an effort to introduce more social housing to the area.

As part of the deal, DLRCC will be completely responsible for upkeep throughout the 25 year term.

And at the end of the lease, Realis will be free to take the properties back to privately rent or sell.

Local Fine Gael councillor Jim O'Leary shared his shock at the deal, and said councillors were not properly informed.

While Independent councillor Sean McLoughlin told the Dublin Gazette that Rebuilding Ireland is not working.

He said: "In this instance, it only covers over the cracks of the housing and homeless crisis in DLR and the wider country.

"This is the first time DLR is using this mechanism, and hopefully it will be the last."

While Eirigi representative Brian Leeson said: "The overall cost of the deal could have built up to 300 homes on public land."

A protest against the plans will take place on Saturday, December 7 from 12pm to 1pm outside the Herbert Hill complex.