Friday 23 March 2018

Price tag of €105m put on Rocca office block in London

Donal Buckley

THE estate of the late Patrick Rocca is asking for €105m for a London office block it is trying to sell.

Mr Rocca, a property developer, bought the block in 2007 for €116m. It is known as 'Lloyds Chambers' and is located at 1 Portsoken Street in the London E1 office district. The 18,000 square metre property is let to insurance company Aon and generated a rent of almost €8m.

Mr Rocca, a father of two, committed suicide in 2009 and his death was cited recently by former US president Bill Clinton as a casualty of the collapse of the Celtic Tiger.

While not naming Mr Rocca, in a speech in the New York Yacht Club in March this year, Mr Clinton said: "The thing that has troubled me most, believe it or not, about this whole economic crisis in Ireland has been the rise in the suicide rate -- not just among the young where it was already too high, but among people in their prime working years who felt somehow their lives have been robbed from them by this.

"A good friend of mine was one of those young, phenomenally prosperous Irish men who took his life when this happened and it made me think about this all over again."

The businessman had lent Mr Clinton his helicopter when he came to Ireland to play golf.

The London 'Times' had named Mr Rocca as the poster boy for the Celtic Tiger boom and the 'New York Times' said his suicide was an example of the steep personal toll of global recession.

Irish Independent

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