The controversial Clonmannon Active Retirement Village in Co Wicklow has been put on the market by its owners, Ms Jane and Mr Roddy McGrath, because of continuing litigation.
If they fail to find a buyer they say they will ask the High Court to move quickly to bring the litigation to an end. Fifteen retired people, most of them in their 80s and 90s, live at Clonmannon.
The McGraths bought Clonmannon out of liquidation in 1996 for £270,000. It comprises a mansion, 46 retirement bungalows and 24 acres of land near Ashford. Most of the bungalows are unoccupied.
Clonmannon started as a retirement village in 1984 when people buying leaseholds were offered a package including a nursing home and dining and social facilities in Clonmannon House.
In its subsequent troubled history, Clonmannon was put into receivership and liquidation and residents withheld service charge payments.
When the McGraths took over, they introduced a new care package, arguing that the original package was not feasible.
They also said they would not reopen the nursing home which had been located in Clonmannon House but which had been closed for some time before they bought it. The McGraths said they intended living in Clonmannon House.
Residents in 13 of the 16 occupied bungalows have accepted the arrangements introduced by the McGraths.
Residents of three bungalows, and three former residents who still have leases, have gone to the High Court to try to force the McGraths to provide the original care package.
One of these residents last night admitted to being "absolutely flummoxed" by the decision to sell but expressed the hope that something positive would come of it.
The effect of the pending litigation, says Ms McGrath, is that people are unwilling to buy bungalows at Clonmannon.
Putting Clonmannon on the market "is the only way we are going to sort the whole situation out."
In the absence of a suitable sale, they will return to the High Court to seek a quick resolution of the litigation. Ms McGrath says she is confident the outcome will be favourable.