Business Irish

Wednesday 28 June 2017

Pub mogul brings down house

Kitty O'Shea's owner has dropped the asking price on his Ailesbury Park home in Dublin from €3.5m to €1.9m in a bid to 'sell and sell quickly'

International pub chain owner Kevin Loughney is having another go at selling his Dublin 4 house. Roslyn, an Edwardian redbrick off Ailesbury Road, is back on the market at the greatly reduced asking price of €1.9m, down from €3.5m in 2008. It's a 250sqm four-bed near Sandymount Dart station.

"We've been instructed to bring it on the market at a price that will sell and sell quickly," said Simon Ensor of Sherry FitzGerald. The agent recently sold a similar property nearby off-market at around this price point.

Mr Loughney co-founded Kitty O'Shea's, the international pub brand that includes the favourite sports fan hangout in Paris. Just three of the original nine Kitty O'Shea pubs are in operation, in Paris, Brussels and Boston.

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THE ex-Jurys Doyle executive duo who have the Travelodge master franchise for Ireland are building a new hotel in Dublin city centre.

Seamus McGowan and Richard O'Sullivan's vehicle, Smorgs Ltd, spent €22.5m on the Travelodge franchise including eight hotels in 2004. The entire European Travelodge operation, including the Irish business, was bought by a Dubai fund for €993m in 2006, but Mr McGowan and Mr O'Sullivan still run the Irish operation.

Smorgs just obtained the planning for a part 12-storey and part eight-storey 374-bedroom hotel, with restaurant/ dining room and bar at 123-128 Summerhill, Dublin 1.

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SOUTH Dublin property developer Ken Malone and his wife got planning to build two five-bedroom detached houses to the rear of their Foxrock, Dublin 18 house at St Joseph's, Brighton Road.

Mr Malone was an investor in Chief O'Neill's hotel (now the Park Inn) in Smithfield, Dublin 7, which sold off market for €20m to racehorse owner and developer Lar Byrne in 2006. His Gable Developments has built housing developments in Dublin's southern commuter belt. He was a director of Newlyn Homes, which invested extensively in property in the UK and Portugal and bought a €21m office block in Brussels.

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THE boss of advertising agency Leo Burnett, Shane McGonigle and his wife, are extending their Sandymount, Dublin 4 house. They got permission to build a new two-storey side extension and single storey extension to the rear, plus a new attic conversion and a new driveway.

Leo Burnett recently bought another agency, Larkin, and has €20m or so worth of client portfolio, with Penneys, Kelloggs and Nivea on its books.

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WHILE it has closed two of its Dublin city outlets, including one on Grafton Street, Dunnes Stores is expanding elsewhere. Crumlin Developments Ltd, where the grocery giant boss Margaret Heffernan is a director along with her brother Frank Dunne, got permission to demolish and rebuild a large part of Crumlin shopping centre, Dublin 12, where it is the anchor tenant.

Sunday Independent

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