Who's who of rich investors eye €100m Tallaght plan
Published 22/05/2015 | 02:30
Firms linked to property development firm Davy Hickey have joined forces with some of Ireland's richest people in plans for a major Dublin 400-unit housing scheme in Tallaght that's likely to cost in the region of €100m to build.
But it will be just the first phase of a massive development that's being planned on lands controlled by the investors.
The owners of a company behind the scheme, Talarive, are a who's who of well-heeled Irish corporate and social life. They include:
* Paul Coulson, the executive chairman of glass maker Ardagh
* Legendary horse trainer Jim Bolger
* Anthea O'Donoghue, the wife of former Waterford Wedgwood boss Redmond
* Former head of Davy International David Shubotham
* Businessman Peter Gleeson
* Kyran McLaughlin, the former joint boss of Davy
Talarive is also partly owned by Davy Hickey, which was behind the development of the Citywest business park in Dublin.
Davy private clients have been closely linked to Davy Hickey for years, with the latter's Brian Davy a key figure in the development of the Davy firm.
If the scheme gets permission, the 400 homes will be built on land owned by Talarive as well as two other firms, Citywest Ltd and Citywest Homes Ltd. Both the Citywest firms are controlled by units of Davy Hickey, whose directors include Brendan Hickey, right.
But the 400 homes, which include a mix of apartments and houses, will be just the first phase of a huge development on the lands, which are beside the Citywest shopping centre and are almost bisected by a Luas line.
When completed, the scheme could generate a sizeable return for the investors, most of whom are already hugely wealthy.
Paul Coulson controls Ardagh, which has facilities around the world and makes glass and metal containers for some of the world's best-known brands. His fortune has been estimated at €1.2bn.
Peter Gleeson is chief executive of Castle Knitwear. He served on the board of packaging giant Smurfit for about two decades until it was sold in 2002 to US private equity giant Madison Dearborn.
His father was a key figure in the development of the Jefferson Smurfit group.
Kyran McLaughlin is also a former chairman of drug group Elan, which was sold in 2013 for €6.3bn to Perrigo.
David Shubotham joined Davy Stockbrokers in 1973 and during the property boom was closely linked to a number of high profile deals here. He's the director of a number of investment vehicles in Ireland, but resides in Switzerland.
There's been a surge in interest by developers in securing planning permission for huge housing schemes, with the supply of housing in the capital falling well below demand.
In March, the Irish Independent revealed that US private equity giant Centerbridge has teamed up with Dublin-based Regency Estates, a company co-founded by the former financial director at Sean Dunne's Mountbrook Homes, Aodan Bourke.
They plan to build over 400 homes west of the capital.
Builder Michael Stanley has teamed up with financier Alan McIntosh to create a new house-building firm called Cairn Homes, which they intend to float on the Dublin and London stock markets in a bid to raise €300m.