Associate
From Todays Irish Independent:
TWO of Ireland's most high-profile property developers, and one of its most low-profile builders, have been linked to a £60m (€87m) bid by former Irish International Niall Quinn for Sunderland football club.
The three are: Sean Dunne, who last week invested €200m in AIB's Ballsbridge headquarters; Sean Mulryan, the head of Ballymore Properties, which owns a €22bn property portfolio; and Jack Tierney, whose Faxhill Homes rose to fame in 2001 when it built a €500,000 extension to the home of former Fine Gael minister Michael Lowry, on behalf of Ben Dunne.
Last Friday Mr Quinn announced that he was heading a consortium which was bidding for the relegated club which has been delisted from the exchange.
"I can't let you know specific details, but I am chairman of the bidding vehicle. The only thing I'll say is you don't play a game of poker by letting everybody know your hand, but my guys have a good hand."
The credentials of Mr Quinn's financial supporters give weight to that assertion. Mr Mulryan's property portfolio in the London Docklands alone is valued at €8bn.
The latest addition to that portfolio is Pan Peninsular near Canary Wharf, a £300m scheme of two interlinking towers with 700 apartments which are selling for up to €10m each.
'My guys have a
good
hand'
A spokesman for Mr Mulryan said: "While Mr Mulryan is a friend and great admirer of Niall Quinn, as both a person and a sportsman, he has a long-standing policy of never, ever commenting on any deal he may or may not be looking at."
Building industry sources said that Mr Mulryan is expected to invest in Mr Quinn's consortium, but will not be a lead investor. Despite his close friendship with Mr Quinn, Mr Mulryan is known to have only a passing interest in soccer.
His passions are Gaelic football, where he sponsors the Roscommon team, and racing, where his horses have had a string of successes in both Ireland and France. He is also a keen golfer and owns the Galway Bay Golf and Country Club.
Mr Dunne is one of the fastest-growing and most ambitious property developers in the country. Aside from last week's investment in the AIB headquarters, he has paid Jurys Doyle Group €380m for seven acres of prime land in Ballsbridge. It is estimated that his company, Mountbrook Homes, will have to invest a further €680m developing the hotel sites as apartments.
Mr Dunne and Mr Mulryan are partners in the property firm Zappia. Their most high-profile joint venture is the Whitewater Shopping Centre in Newbridge.
Jack Tierney is the man behind Faxhill Homes, which as well as building what is probably the most controversial home extension in the history of the State, also did work to the value of approximately €1m on Ben Dunne's home. The work was charged to Dunnes Stores.
Mr Tierney's business interests include the four-star Killashee House Hotel near Naas, where Mr Quinn is a 10pc shareholder.
Tom McEnaney
TWO of Ireland's most high-profile property developers, and one of its most low-profile builders, have been linked to a £60m (€87m) bid by former Irish International Niall Quinn for Sunderland football club.
The three are: Sean Dunne, who last week invested €200m in AIB's Ballsbridge headquarters; Sean Mulryan, the head of Ballymore Properties, which owns a €22bn property portfolio; and Jack Tierney, whose Faxhill Homes rose to fame in 2001 when it built a €500,000 extension to the home of former Fine Gael minister Michael Lowry, on behalf of Ben Dunne.
Last Friday Mr Quinn announced that he was heading a consortium which was bidding for the relegated club which has been delisted from the exchange.
"I can't let you know specific details, but I am chairman of the bidding vehicle. The only thing I'll say is you don't play a game of poker by letting everybody know your hand, but my guys have a good hand."
The credentials of Mr Quinn's financial supporters give weight to that assertion. Mr Mulryan's property portfolio in the London Docklands alone is valued at €8bn.
The latest addition to that portfolio is Pan Peninsular near Canary Wharf, a £300m scheme of two interlinking towers with 700 apartments which are selling for up to €10m each.
'My guys have a
good
hand'
A spokesman for Mr Mulryan said: "While Mr Mulryan is a friend and great admirer of Niall Quinn, as both a person and a sportsman, he has a long-standing policy of never, ever commenting on any deal he may or may not be looking at."
Building industry sources said that Mr Mulryan is expected to invest in Mr Quinn's consortium, but will not be a lead investor. Despite his close friendship with Mr Quinn, Mr Mulryan is known to have only a passing interest in soccer.
His passions are Gaelic football, where he sponsors the Roscommon team, and racing, where his horses have had a string of successes in both Ireland and France. He is also a keen golfer and owns the Galway Bay Golf and Country Club.
Mr Dunne is one of the fastest-growing and most ambitious property developers in the country. Aside from last week's investment in the AIB headquarters, he has paid Jurys Doyle Group €380m for seven acres of prime land in Ballsbridge. It is estimated that his company, Mountbrook Homes, will have to invest a further €680m developing the hotel sites as apartments.
Mr Dunne and Mr Mulryan are partners in the property firm Zappia. Their most high-profile joint venture is the Whitewater Shopping Centre in Newbridge.
Jack Tierney is the man behind Faxhill Homes, which as well as building what is probably the most controversial home extension in the history of the State, also did work to the value of approximately €1m on Ben Dunne's home. The work was charged to Dunnes Stores.
Mr Tierney's business interests include the four-star Killashee House Hotel near Naas, where Mr Quinn is a 10pc shareholder.
Tom McEnaney
