Thursday 21 September 2017

O'Callaghan's business nous saw him through both boom and bust

Mr O’Callaghan with a model of his Mahon Point project.
Mr O’Callaghan with a model of his Mahon Point project.
Ronald Quinlan

Ronald Quinlan

If you're looking for a telling example of the astute manner in which the late Owen O'Callaghan conducted his business as a property developer, you need look no further than the lead business story in the 'Sunday Independent' of September 25, 2005.

It was the height of the boom and Sean Dunne had just emerged as the winning bidder for the Jury's and Berkeley Court hotels in Ballsbridge with a winning bid of €275m - a figure which famously had been determined by his wife, Gayle Killilea's birth year of 1975.

Asked about the wisdom or otherwise of the price being paid by Mr Dunne for the two hotels, Mr O'Callaghan called it as he saw it.

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