Fingal County Council has granted Treasury Holdings an extra five years to complete a hotel and tourist resort at the 437-acre Milverton Demesne in Skerries in north Dublin.

The company has already spent nearly €550,000, excluding Vat, on enabling works. The council decided those works were not substantial enough. However, under new planning laws an extension to planning permissions can be granted because of "commercial, technical or economic circumstances". Treasury was contacted on 6 September by the council and informed of the new provision. By 15 September, the company told the council that "the overall collapse of the recreational, leisure and hotel market" since 2007 has seen a consequent reduction in de­mand. It also said the sector is heavily over supplied, making it "increasingly difficult to secure a competent... operator... making the project non-commercially viable and not fundable". In addition, it said, the banking crisis has restricted funding. The council then granted an extension for five years.

Treasury is planning to develop a 100-bedroom hotel, two 18-hole golf courses, 50 houses, stables, a tennis academy and a craft centre on the site.