Sunday 18 November 2018

Builder ready to roll with Rolling Stone

An Irish entrepreneur has teamed up with the world-famous rock and roll lifestyle magazine in order to open a themed restaurant in Los Angeles

Roisin Burke

AN Irish entrepreneur has teamed up with Rolling Stone magazine to open the legendary publication's first restaurant and nightclub.

Niall Donnelly and a US real estate developer partner are planning to open at a 1,000sqm venue at the Highland Centre, in Hollywood, Los Angeles, close to the Kodak Theatre and the Hollywood Walk of Fame next summer. Mr Donnelly operated London bars Anam and Slim Jim's Liquor Store, and the Woodbine gastropub.

He isn't unduly perturbed by the mixed fortunes of previous music and entertainment-themed ventures such as Planet Hollywood and the Hard Rock Cafe.

"We have one of the best sites in the US coupled with the enormous power of the Rolling Stone brand, that makes this a very exciting venture," he says.

Rolling Stone was founded in San Francisco in 1967 by Jann Wenner who is still the editor, and music critic Ralph J Gleason. The magazine was known for its political coverage beginning in the 1970s, and the enigmatic and controversial 'gonzo' journalist Hunter S Thompson was one of its best-known writers.

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HE snapped up one of the juiciest retail sites in Galway for about €20m but a long quest for planning lost him an international tenant and the chance to rake in boom-era rent. Gerry Barrett, the owner of Ashford Castle and the G and D hotels, has finally received planning permission to develop 1,383sqm of prime (though in this climate, not as prime as it once was) retail space over three storeys at the city's 47 William Street.

In 2007, Mr Barrett said Spanish clothing giant Zara wanted to move in but lost interest after a lengthy planning process and the downturn. An Taisce appealed several proposals for the protected structure site in Galway's "medieval core". An Bord Pleanala's senior planner recommended refusal of permission, but planning was granted last week. Mr Barrett hopes to get another high calibre tenant, though maybe not at the 2007 rent.

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THE developer duo who sought bankruptcy protection for their company as debts reached over €40m seem to have bounced back.

Michael Lalor and John Grace, owners of G&L Property Investments, petitioned the High Court in November 2008. Agreement was reached with debtor ACC by the interim examiner to restructure the debt and the company survived. G&L built large housing developments in the Midlands, such as the €23m Stradbrook apartment and office building near Portlaoise.

Mr Lalor and Mr Grace recently sought planning for 392 dwelling units at a site at Meelick, Co Laois, though it was refused on appeal with risk from flooding cited as one reason by planners.

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THE Derry businessman being sued by investors over a £2.5m (€2.78m) property deal in Turkey is seeking to get an injunction on his assets eased or lifted.

Kevin O'Kane is being sued by 60 investors in a case over property deals at the Golden Beach holiday resort, but denies any wrongdoing and says he is the victim of a rogue business partner.

Sixty couples claim that they bought £75,000 villas in the Golden Beach development, but later found out that they did not own the properties. They have filed legal actions against Mr O'Kane in Northern Ireland and Turkey.

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Owners of the former garda station on Harcourt Terrace in Dublin 2 has received planning permission to develop the site.

Durkan New Homes won a land government swap bid to acquire the Harcourt Terrace site in exchange for delivering affordable housing units in west Dublin. It plans to build a four-storey apartment block and seven-storey commercial block, plus 68 parking spaces.

Sunday Independent

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