Willie O’Dea and former minister leave board of property developer

Developer is linked to bulk sale of social housing in Limerick to approved bodies

Willie O’Dea had a 0.91 per cent stake in the business, according to its website. Photograph: Nick Bradshaw

Willie O’Dea had a 0.91 per cent stake in the business, according to its website. Photograph: Nick Bradshaw

 

Fianna Fáil TD Willie O’Dea and former minister Batt O’Keeffe have left the board of a UK property developer linked to the bulk sale of social housing in Limerick to approved housing bodies that qualify for State funding.

Filings to the UK companies registry show that Mr O’Dea, a former defence minister, and Mr O’Keeffe resigned last Monday from Formation Group, a London-based developer whose main shareholder is in Jersey.

Mr O’Dea had a 0.91 per cent stake in the business, according to its website. He did not return calls on Sunday.

Reports that almost 250 social homes Formation Group was building in Limerick were to be sold to approved housing bodies followed a political furore over the sale of a Co Kildare housing estate to an corporate investor.

Mr O’Dea had been non-executive chairman of Formation Group since mid-2014 and Mr O’Keeffe, who was a Fianna Fáil TD and Senator for 19 years, was a non-executive director.

The business withdrew late last year from the Acquis stock exchange in London.