Wednesday 24 January 2018

Notoriously shy investor faces very public battle

Dearbhail McDonald Legal Editor

HE has a 'pension fund-quality' property portfolio that, according to those who have reviewed his accounts, generates an annual rent roll of €150m.

But few people know who the real Paddy McKillen is. The only photograph of him is an old black-and-white headshot taken at a Construction Industry Federation dinner in 1989.

The Belfast-born property investor is best known as the developer of the Jervis Shopping Centre in Dublin and a co-owner of the Maybourne Hotel Group, the company behind the five-star Connaught, Claridge's and Berkeley hotels in London.

He is also a shareholder in Bono and The Edge's Clarence Hotel in Dublin.

Mr McKillen, who owes state-owned Anglo Irish Bank and Bank of Ireland €2bn, is notoriously media averse, but his prowess is set to be scrutinised in his challenge against NAMA.

Mr McKillen is married to the former model Maura McMenamin and the couple live in Foxrock, Dublin.

He takes offence at being labelled a developer, preferring 'investor'.

Desperate to stay out of the limelight, Mr McKillen is even more desperate to stay out of NAMA.

NAMA insists that transfer of his loans is akin to a simple "change of bank manager" but Mr McKillen claims that he will be tainted by a "no smoke without fire" association -- and fears he will be shoehorned into a business model unsuited to his plans.

Irish Independent

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