Thursday 14 December 2017

Property magnate Stephen Vernon will have benefited handsomely from the sale of Blanchardstown Shopping Centre, which he controlled, to investment behemoth Blackstone for 950m last June and of two prime London properties for 246m to an Asian investor in January. He had developed Blanchardstown and a number of other commercial properties before the boom, but then took Green Property, which he founded, private in a 1bn deal, selling off a bundle of properties to clear debt and leave him with Blanchardstown.

He was one of only a handful of property players who avoided the carnage of the 2008 crash, coming through it with cash to spend. He also made money when Green REIT was floated off — it had built up 950m worth of properties and a 55m rent roll — and his 34pc of it alone is worth 340m.

The stake in Green Property Holdings, which is a separate entity, and any related debt will have dictated what he banked from his Blanchardstown pay-day, while he also pocketed a 7m performance fee last summer.

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