The late home builder and developer Joe Cosgrave left behind a fortune worth more than €71m gross but this has been reduced to a net worth of more than €16m, according to documents filed with the Probate Office in Dublin last week.
r Cosgrave, one of Ireland’s largest house builders – owned by his brothers through the family business – died suddenly last month aged just 62.
It has now emerged that his wife Denise was issued letters of administration over his estate last week in what legal observers consider one of the fastest grants ever.
Comfort letters were requested on March 7, according to a document on file with the probate office.
They were granted to Ms Cosgrave by the court “for the purpose of administering the estate and bank accounts of the deceased”, enabling her “to enter into such legal and business transactions as may be necessary or appropriate”.
Two former t Aoisigh, Bertie Ahern and Brian Cowen were among the many mourners who expressed their condolences to the Cosgrave family following the sudden death of Mr Cosgrave, a father of two, on February 11.
His funeral was attended by a cross-section of well-known builders, developers and public figures.
The letters of administration dated March 14 indicate that Joseph (Joe) Cosgrave of Mount Anville, Dublin left an estate with a gross value of €71,714,911 and a net value of €16,318,248.
Originally from Churchtown, Dublin 14, his father, Jack Cosgrave, was a poultry and pig farmer who dabbled in construction.
In 1979 his sons Peter, Joe, Mick and Willie started their own housing company, Cosgrave Brothers, and over the years erected landmark developments throughout Dublin.
They gained a solid reputation for well-built properties and became one of the capital’s best-known and most respected builders.
It is estimated that in the last 40 years They built more than 7,500 houses in their various locations and developed a significant portfolio of commercial properties. They also had extensive property interests in London and elsewhere in Britain.
Like most other developers, they were hit during the housing crash of 2010 – but the firm continued to build private and social housing on its Dún Laoghaire site. and finally left the state-owned National Asset Management Agency (Nama) in 2020.
Peter Cosgrove, Joe’s brother, also died tragically young in 2019 at the age of 59.
Joe Cosgrave made a lasting impression on those involved in the business with his good nature and honest conduct of business.
He also developed a good relationship with the communities in which he worked – so much so that after his death, the GAA club Ballinteer St. John’s said their clubhouse would not have been without the building materials he had donated to them and his help can be built .
Speaking at his mother Pat’s funeral, Joe Cosgrave recalled how impossible it was to get a phone on a building site when they started out on four properties purchased from Patrick Gallagher in Stillorgan, Co. Dublin.
They relied on radios to keep them in touch with their mother, who ordered all of their building materials.
“He was great company and always a pleasure to be with,” real estate agent Ken McDonald said after meeting Mr Cosgrave’s sudden death.
“He was proud of the work the Cosgraves did – but success didn’t change him one bit.”
https://www.independent.ie/irish-news/news/dublin-builder-joe-cosgrave-leaves-71m-fortune-41467138.html Dublin builder Joe Cosgrave leaves behind a fortune of €71m