Ah Derek Quinlan, high priest to Cannies everywhere.
You see Derek wasnl’t a property speculator, he was “an ex senior Revenue official”
This was always carefully added to his name to ensure any nervous Canny was placated.
I mean Derek knows all the tricks and all the “right” people, plus he can tie those Revenue guys in knots.
When I read that he had cried when he bought the Savoy and he saw the tricolour being raised I said OMG and quickly thought “this won’t be the last tiem he will cry over this investment”
When you out bid Arabs in the middle of a property boom, then you know you are the sucker in the room
If Quinlan goes (and from where I am standing it looks a near impossibility that he won’t), stand well back because this one will explode with the amount of “establishment” figures behind the scenes in his “schemes”.
They I can assure you will not go gently into the night.
Its interesting to reread the article now …particularly the comment about third party equity injection. Also it does set out a fairly extensive list of assets if one was a third party and might be in the market to support an expansion of these assets.
I had heard that a very big player was leaving the country sharpish because of NAMA but not the name .
Quinlan, seemingly , is he. Switzerland does not extradite much and Derek is selling his D4 home and divesting himself of any Irish Assets as fast as he can as we already know hereabouts He put the Elgin Road house on at €7.5m in May and dropped within a few short weeks to €5.5m .
The Sunday Times is keeping a very close eye on Derek and said of him that "once among the country’s most enthusiastic buyers of property. Now Derek Quinlan is one of its most vigorous sellers " back in June . Mmmm , Vigorous, indeed.
Todays article notes .
At LEAST €1.5bn RIGHT NOW and much much much more if lending covenants are breached by plummeting Commercial valuations .