Monday 25 September 2017

From the boardroom to the mosh pit, what's the next smart move for the richest man in Irish rock?

John Gallagher fronting Dakota 66
John Gallagher fronting Dakota 66
Nick Webb

Nick Webb

John Gallagher, known as the "smartest man in the room" for his role in selling off the Jurys Doyle Hotel assets in Ballsbridge to debt-fuelled builders right at the top of the boom, has another job.

He's the lead singer for five-piece "indie rock band" Dakota 66, which played support to the Riptide Movement at Dublin's Olympia Theatre last week.

The band has also played at the Electric Picnic, the Harley Davidson biker festival and London's Royal Albert Hall.

Entrepreneur Gallagher made stacks of money when selling his Magnum alarms business in the Nineties before moving into waste and infrastructure. NTR bought his stake in Celtic Utilities for around €48m in 2001.

The businessman is married to Bernie Gallagher, the uber-glamorous heiress to the Jurys Doyle Hotel group. The pair masterminded the €1bn taking private of the listed hotel group in 2005 before wiping out its debt through the sale of the Jurys Inns business and offloading the Burlington, Berkley Court and Jurys Ballsbridge. The remaining hotels were rebranded under the Doyle Collection.

Apart from rock and roll, the Gallaghers have started to show interest in the Irish property market again.

Recently they inked a deal to buy the €25m River Lee Hotel in Cork as well as the Temple Chambers office block on Dublin's Burlington Road. Other assets include a mega-share portfolio as well as UK property, held through their Crownway investment firm.

Irish Independent

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