Thursday 24 May 2018

'Unnamed' billionaire eyes €15m Mt Juliet

The Mount Juliet Hotel
The Mount Juliet Hotel
Nick Webb

Nick Webb

FINANCIER Jon Griffin's low-key iCapital is leading a high-net-worth Irish consortium trying to buy the €15m Mount Juliet resort, which is now being sold by the O'Mahony family, who hold Ireland's Toyota franchise.

Griffin and Barry O'Sullivan (also a director of a number of Dermot Desmond investment companies) are understood to be bankrolled by an unnamed Irish billionaire. Griffin was unavailable for comment.

The iCapital Group is said to be in a shootout with the likes of Pat McCann's Dalata, Ritz Hotels and Brehon Capital for the iconic golf destination.

Mount Juliet was created by the late Toyota tycoon Tim O'Mahony and his Killeen Investments group. It was seen as a labour of love rather than as a particularly lucrative venture. For this reason, the O'Mahony family is keen to sell to a group that will nurture and develop the Kilkenny complex, rather than merely "flip" it in a couple of years.

It is understood that iCapital has a 10-year development plan for Mount Juliet and has a track record of long-term investments.

Sunday Indo Business

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