Harcourt Developments Donegal developer Pat Doherty is considering selling a portfolio of six regional shopping centers, according to The Sunday Times. It says the developer’s main lender, Apollo Global Management, which bought Harcourt’s loans from Nama, is keeping sellers on advice on options for the assets, which include centers in Dublin, Donegal, Limerick, Galway, Laois and Louth. Harcourt was due to pay € 255 million to Apollo in August.
Consortium to invest in Shelbourne football
A consortium of investors is planning to make a “seven-figure” investment in Shelbourne football. The Sunday Times reports that the group of financiers includes Joe Devine, who is closely associated with Ardmore Studios, as well as directors from the Centerbridge Partners private equity group. The club is mostly owned by former Maples & Calder law firm chief, Andrew Doyle. The club, managed by Damien Duff, could look to redevelop its Tolka Park stadium in Dublin.
ServiceNow to rent a larger office
The Sunday Times also reports that software company ServiceNow has agreed to a property lease agreement that will allow it to more than double the number of its Irish staff to 900. It says its that the company will take up space in a new six-storey commercial development on Dublin’s Dawson street.
Solar21 is looking for ‘financial solutions’ to repay investors
The Sunday Independent reports that Irish-based investment group Solar21 has delayed payments to investors on a € 250 million renewable energy project in the UK. It says the group, founded by Mayo brothers Michael and Andrew Bradley, has sent a memorandum to Irish brokers saying it is looking for “financial solutions” to help it make payments. It blamed Brexit and supply chain disruptions for issues affecting its investments in the UK.
The buyer searched the Merrion hotel stake
Belfast-based Hastings hotel group is looking for a buyer for its 50 per cent stake in Dublin’s five-star Merrion hotel, which the Sunday Independent thinks could fetch more than € 140 million if the entire hotel is sold. The other 50 percent is owned by Glen Dimplex founder Martin Naughton and his long-term business partner, former AIB chairman Lochlann Quinn.
Ryanair invests in Edinburgh, Cork and Leeds airports
The Sunday Independent also reported that Ryanair announced investments in three airports worth $ 400 million (€ 363 million) this week, as it increased its operations in anticipation of a busy summer. It provided two extra aircraft for Edinburgh airport, as well as an extra each for Cork and Leeds Bradford. The paper says each aircraft represents a $ 100 million investment.
Hyde & Seek to deal with 40 cases of anxiety and neglect
The Business Post reports that a Dublin law firm has said it will bring more than 40 lawsuits against the Hyde & Seek preschool chain in cases of alleged emotional distress and neglect. The chain is at the center of allegations of failures in an RTÉ Investigates report. Its owner has been fined.
Irish Funds Industry assets
The Business Post also reports that Irish Funds Industry will manage assets by the end of 2021 of $ 5.7 trillion, according to research from Monterey Insight. The value of funds residing in Ireland has risen 28 per cent to $ 4.2 trillion, of which the rest of the industry is accounted for by funds in the Cayman and Luxembourg administered in this country.