Sunday 4 December 2016

Number of Irish on UK rich list plummets to 13

DONAL BUCKLEY Commercial Property Editor

Published 17/11/2011 | 06:00

Lucky for some: Dermot Desmond enters the UK rich
league for the first time at 13 with wealth of £1.3bn
Lucky for some: Dermot Desmond enters the UK rich league for the first time at 13 with wealth of £1.3bn

Only 13 people with connections to the Irish Republic have made it into the latest UK property Rich List -- down from 30 in the 2009 list.

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Investor Dermot Desmond comes into the list in thirteenth place with an estimated wealth of £1.3bn which includes £20m investment in UK quoted companies. He takes top Irish slot from horse breeder John Magnier who slipped from 18 in 2009 to 33 as his wealth is estimated to have dropped by £20m again this year to £520m.

Former bookie JP McManus has moved up from 39 to 36 despite his wealth dipping £10m to £480m. Both Magnier and McManus are partners in Sloane Capital, whose properties are estimated to be worth about £1bn. The survey is published by Estates Gazette, the UK property magazine.

Lagan Group owners, Kevin and Michael Lagan, have seen their ranking rise from 67 to 61 despite a £50m drop in their estimated wealth to £350m.

Dropped

Stephen Vernon, head of Green Property, has seen his ranking slip three places to 65 as his wealth is estimated to have dropped £70m to £280m. Dr Gerard O'Hare, who owns Parker Green and shopping centres in Carlow and Newry, has held steady at 78 and wealth of £220m.

The Brennan Bakery family, whose property interests include the Versace shop in London's Bond St, have shot up the rankings from 101 to 82 although their wealth is estimated to have increased by only £4m to £201m. Industrial property specialist Ken Rohan has dropped 22 places to 126 following an estimated £10m drop in his wealth to £137m.

Mondello Park owner Martin Birrane has dropped 24 places to 176 with his wealth down £25m to £85m. Cork developer Owen O'Callaghan is also down 20 to 208 as his wealth dropped £9m to £71m.

Harcourt Holdings chief Pat Doherty, has seen his position slump from 84 to 208 following a wealth cut of £27m to £66m.

Mark and Kathleen Kavanagh of Hardwicke property company have slipped one place to 211 and seen their wealth fall £4m to £65m.

Irish Independent

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