Business Irish

Sunday 18 March 2018

Cotter cuts the price of €2.5m superyacht

Michael Cotter. Photo: Gerry Mooney
Michael Cotter. Photo: Gerry Mooney
Nick Webb

Nick Webb

Park Developments Michael Cotter has cut the price of his 79ft superyacht Whisper, which is being sold by Pegaso yacht brokers for €2.25m.

The price for what may be Ireland's fastest yacht is down from €2.5m.

Cotter was one of the best-known developers of the 1990s and boom years, with his Park Developments building hundreds of houses and developing the hugely successful Park retail campus in Carrickmines.

Along with other major property developer borrowers, Park Developments loans were transferred to Nama.

Whisper was refitted in 2010. There's a terrific master bedroom and a few other cabins, plus bunks for the crew. The teak-lined salon can sit 10 for dinner and there's a drop-down screen for movie nights.

"She is presently out of water in Viareggio for the teak deck replacement and for other minor ordinary works. Starting from the second half of March she will be available for viewing in Genoa at Marina Molo Vecchio," the agents told me.

Cotter has won the 2009 SWS Trophy, the 2009 Rolex Fastnet Race, the 2009 Mini Maxy Rolex Cup and three outings at Les Voiles de St Tropez.

The question now is if Cotter will buy something bigger and better?

Bumper bunfest at the Intercontinental

So who was invited? And who wasn't?

The Dublin Chamber of Commerce annual bunfest in the Intercontinental in Ballsbridge is mainly interesting to see which clients or prospective clients were invited.

While it's probably not the greatest craic in the world, it's always nice to be asked. The guest list shows PwC invited Bord Na Mona finance chief Michael Barry and Jurys Inns chief finance guy Cormac O Tighearnaigh.

BoI Private Banking invited industry giant Howard Kilroy, Corporate Banking brought Norah Casey and Core Capital's John Sheridan, with Ulster Bank listing Heaton's managing director John O'Neill on its table. A&L Goodbody invited Applegreen's Bob Etchingham, Eason's boss Conor Whelan, John McLaughlin from Larry Goodman's ABP, Tesco's legal director Sarah Gallagher and Carlton Green from Irish Distillers.

KPMG's guest list included Clancourt's Enda McDonald and Tribal VC's Fergal Walshe. Grant Thornton took Larry Bass. Google sent a large contingent, including veepee Ronan Harris and head of sales Cera Ward.

Sunday Indo Business

Business Newsletter

Read the leading stories from the world of Business.

Also in Business