Monday 18 February 2019

First generation Irishman Stephen Vernon (68), whose parents moved to the south of England, has prospered in line with the recovery in property values here since the 2008 crash. He was one of few investors to emerge unscathed from it. He controlled Blanchardstown shopping centre, which sold to Blackstone for €950m, and had a windfall from the sale of two prime London properties to an Asian buyer for €246m.

A founder of Green Property, which went private in a €1bn deal, he made money when Green Reit was floated off, and still retains a 34pc stake in it, which is currently worth about €330m, with the share price down by about 10pc since last year.

Last year, he said that Green had gotten out of retail property investments and moved its money into logistics instead, which is benefitting from increasing imports and exports in line with economic growth and is not negatively affected by changing shopping habits.

The Porsche-driving keen sailor and hillwalker and his fellow executive Pat Gunne, have enjoyed performance fees and share packages of about €87m over the past five years.

He owns two Dublin homes, one of which is a Ballsbridge penthouse apartment, and a seaside home in Cork, where he enjoys sailing. A patron of the arts, education and supporter of various charities, last year, he donated a €1m MRI scanner to the National Maternity Hospital.

Online Editors

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