Tuesday 28 February 2017

Super yacht linked to developer Ronan goes on sale for €30m

Mark Keenan

Mark Keenan

The luxury 'super yacht' Ulysses
The luxury 'super yacht' Ulysses
Johnny Ronan
Ulysses bedroom
Ulysses seating deck

A luxury 180-foot "super yacht" which has long been owned by a trust associated with the colourful developer Johnny Ronan has just been placed for sale on the international market for €30m.

The Monaco-based Viare global maritime brokerage confirmed yesterday that the Ulysses, which rents for €250,000 a week, is for sale.

The asking price is €5m more than estimates made last year at a time when it was reported that the yacht had been raised in "end game" negotiations by Nama just before Mr Ronan exited the bad bank.

However the agency would not confirm whether the boat was being sold by the trust involving Mr Ronan or by another entity or individual.

When contacted by the Irish Independent, Mr Ronan would not comment on whether he was still involved with the trust which owns the boat.

At 56 metres, it qualifies as a so-called "super yacht" and is about as large as a vessel can be in order to fit into the European harbours on the popular luxury yachting circuit.

It comes with a plush below-deck lounge bar, an above-deck bar, bathrooms with gold fittings, a huge on-deck multiple-seater Jacuzzi bath, a catering standard kitchen with a walk-in freezer and a top lighting and music system.

Viare have noted however that "the owner's personal effects are excluded from the sale". These include artwork, sculptures and a grand piano.

It is reckoned to be in the top 10pc of luxury yachts worldwide and was built in 2012 at a time the Ronan Group was in Nama.

Yachts like this must be ordered a significant period in advance.

Any debts relating to it were never owed to Nama. Therefore the Italian-moored yacht was not in any way controlled or under the influence of Nama.

However, it has been speculated that Nama indicated its knowledge of Mr Ronan's interest in the boat as its negotiations with him came to the pivotal stages shortly before his exit from the bad bank on April 1 this year after a €300m settlement was agreed.

The Ronan Group exited Nama after five years as a result of a refinancing package rather than a loan sale.

The Ulysses was built by the internationally renowned Benetti shipyard and has accommodation for 12 guests in six staterooms.

Irish Independent

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