Former taoiseach Mr Charles Haughey has sold his north Dublin houseand 235 surrounding acres to a property development company.
Mr Haughey (77) has lived in Abbeville House, Kinsealy, Co Dublin, for more than 30 years. He is understood to be suffering from prostate cancer.
Manor Park Homebuilders confirmed the purchase tonight, but did not disclose the price of the deal. However, it is estimated Mr Haughey stands to earn as much as €50 million from the sale. Ten acres in the same area, which is regarded as one of the most prime building sites in Dublin, sold three years ago for €7.6 million.
However, it is unclear whether or not Mr Haughey was the sole owner of all 235 acres surrounding the house.
It is understood the terms of the contract will not permit the three-timesex-taoiseach to stay in the house until his death.
Earlier this year, Mr Haughey agreed to pay €5 million tothe Revenue Commissioners to settle outstanding tax liabilities. The settlement followed what Revenue described as "long and complex negotiations" between them and Mr Haughey's professional advisors.
The payment marked Mr Haughey's second substantial tax settlement in a littleunder three years. In April, 2000, he handed over almost €1.28 million, including interest adding up to €637,000 in respect of an interimsettlement relating to tax on a payment he received in the 1980s fromMr Ben Dunne.
Manor Park is 51 per cent owned by businessman Mr JoeMoran, with the remaining 49% held by DCC, a business support services grouplisted on the Irish stock exchange.