Thursday 17 April 2014

Rory takes a punt on Liverpool docklands

Rory McIlroy. Photo: Ross Kinnaird/Getty Images

Superstar golfer Rory McIlroy has emerged as an investor in a tax-driven scheme to help rebuild Liverpool's historic docklands.

He is a shareholder in the Stanley Dock (All Suite) Regeneration limited partnership, which is redeveloping part of the Scouse docklands. The €35m scheme will also see the construction of a 150-room hotel. The project avails of a €450m tax-led programme to encourage investment in disadvantaged areas.

Fellow investors include Irish golfer Graeme McDowell and Welsh footballer Rob Earnshaw.

It's not McIlroy's only tax-driven investment. He is also involved in the €22m West Bar BPRA limited partnership, which raised €22m to invest in a Hilton Hotel in Sheffield. The deal was financed with debt from Coutts, the blue-blood bank favoured by Queen Elizabeth.

He is also involved in the development of the Park Regis hotel in Birmingham as part of a consortium that invested €51m with Seven Capital Plc to develop a hotel in Birmingham.

This was funded by investor equity and a €32m loan from Staywell Hospitality, according to documents.

Last year saw McIlroy,  ink a mega €220m ten-year sponsorship deal with Nike. He was also involved in a spectacular falling out with his former management group Horizon, which led to a bitter legal action.

Nick Webb

Irish Independent

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