The former Taoiseach, Mr Charles Haughey, has not yet signed any papers dealing with the sale of the family-owned Abbeville estate in Kinsealy, Co Dublin, it was understood last night.
It was reported recently that Treasury Holdings had reached agreement with Mr Haughey on the sale of the 250-acre estate for £30 million, subject to Capital Gains Tax clearance.
The report led the Haughey family to issue a brief statement to the press through a Dublin public relations firm yesterday, denying that the house and lands had been sold.
The statement read in full: "The Haughey family wishes to state that reports suggesting that Abbeville and its lands have been sold are untrue and that many comments surrounding these reports, including suggestions that Mr and Mrs Haughey are moving to France, are without foundation. The family has no further comment to make on this matter."
Last night the public relations executive for the family refused to discuss the issue further despite journalists' questions.
Reliable sources insist, however, that the deal with Treasury, which is subject to a confidentiality clause binding on both sides, will go through. The property company already owns 10 acres of the estate with road frontage.
Mr Haughey had transferred all of the Kinsealy lands, except the James Gandon-designed house and 20 acres, to a company called Larchfield Securities, owned by his four children, in 1990.
The Revenue Commissioners' decision on whether the sale qualifies for the 20 per cent Capital Gains Tax rate will be crucial. However, there is little legal reason why it should not, sources said.
Reportedly, Treasury intend to build starter homes on the lands, although the battle for planning permission could be hard fought. The zoning category could be changed by a simple majority of councillors under the next review of Fingal County Council's development plan, which is being drafted.
A Green Party councillor, Ms Heidi Bedell, warned that there had already been too much development in and around Malahide.
