Monday 18 February 2019

London-based Brooks, who hails from Limerick and is often involved in deals with fellow Rich Listers JP McManus and John Magnier, might have missed out on buying London's Brixton Market last year.

But he added several high-end retail stores in New York - where he already owns the building that houses Ralph Lauren's flagship store - to his Tribeca Holdings property portfolio, spending more than €65m on the investments.

The Brixton investment would have amounted to £37m (€41m), but he was beaten by a billionaire Texan rival. A punt on its suburban streets - while no doubt well-calculated - would have been a curious move. Tribeca's office is in Mayfair and Brooks' previous investments have always tended to be in stores with premium tenants and only the highest rent-yielding areas of central New York, Paris or London.

One property alone in Brooks' London portfolio, across the road from Selfridges and purchased for £127m in 2013, has quadrupled in value since then - with an accompanying rent hike - following a refurbishment. Its tenants include Tesla and Dyson as well as a high-end watch retailer.

During the boom, he bought the former residence of the Bishop of Limerick, Kilmoyle, for €27m, later selling it for a fraction of the price to his pal McManus.

Online Editors

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