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Irish property financier lands 'first dance' Dallas deal

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'A purchase price was not disclosed in the interview.' (stock photo)

'A purchase price was not disclosed in the interview.' (stock photo)

'A purchase price was not disclosed in the interview.' (stock photo)

Sean Conlon, an Irish-born, US-based property financier, has acquired 719 lots in the White Bluff Resort on Lake Whitney, Texas.

Conlon, who is known in the US as the host of TV station CNBC's original series The Deed, in which he helps house developers who have run out of money or who need support and mentoring, revealed the deal in an interview with the Dallas Business Journal.

Conlon & Co, which Conlon describes as a global real estate merchant bank, bought the 719 lots from Dallas-based Double Diamond Resorts. The Irishman runs the company in partnership with minority shareholders comprised of his son Patrick and former Chicago mayor Richard Daley.

A purchase price was not disclosed in the interview.

According to the Dallas Business Journal, the White Bluff community is 3,500 acres with 6,500 building lots. Conlon said lot prices ranged from $25,000 to $250,000, with homes from $500,000 to more than $1m.

During the interview, the Irish property financier called the purchase of the lots at White Bluff "my first dance in the Dallas area", and suggested it wouldn't be his last.

"We have some other things percolating in Dallas," he said. "I just love the demographics and the way you guys do business."

"I grew up in Ireland and I grew up on cowboy movies," he added. "We all wanted to be Texans."

Conlon grew up in Rathangan in Co Kildare. He moved to Chicago in 1990, where he built his successful property business.

 

Irish company eShopworld sees online shopping boom

Irish ecommerce company eShopworld (ESW) has new projections for online shopping — and the growth is expected to be huge. International online sales are predicted to increase by 120pc year-on-year during October.

The company, which is headed by Tommy Kelly, predicts that consumers will shop earlier for Christmas, pulling sales away from the traditional peaks of Black Friday and Cyber Monday. Even when restrictions have eased, cross-border ecommerce sales have remained at record levels.

Data from ESW, which works with global retail brands, suggests that sales growth will peak during the weeks beginning October 18 and 25.

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Although good news for the digital retailers, it does highlight how the business is rapidly changing for traditional retailers.

 

Interesting to note Fingal County Council’s latest ambitious €767m three-year capital programme, up a whopping 24pc on the previous one. It is heavy on housing and there is a lot to keep locals happy with parks and cycle greenways.

It’s highly unlikely that other local authorities will see similar rises in their new plans. Few have the financial firepower of Fingal, with the airport, large rates base and rapid population growth delivering a steady stream of building levies. With Covid restrictions biting, some will do well just to keep the lights on.


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