Board index » The IRISH PROPERTY BUBBLE » The Golden Circle » NAMAwatch (Pt. I)

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 Post subject: Re: Developer McKillen takes first legal challenge against N
PostPosted: Fri Jul 11, 2014 7:45 am 
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Quote:
A bitter Mr McKillen compares Mr Quinlan to Judas after the former partner gave away voting rights in the crucial battle for control of the hotels several years later.

"Not many times in your life do you just feel your partner sitting beside you has just thrown you under the bus," he says.

Mr Quinlan, for his part, gloats that Mr McKillen now finds himself forced to cede control of his stake to a US hedge fund.

The relationship between Mr McKillen and the billionaire Barclay brothers is even worse. "He pathologically f***ing hated them," an associate of Mr McKillen tells the magazine.


http://www.independent.ie/business/iris ... 23537.html

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 Post subject: Re: Developer McKillen takes first legal challenge against N
PostPosted: Fri Jul 11, 2014 8:26 am 
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http://www.irishtimes.com/business/dere ... -1.1862958
Quote:
The now heavily indebted businessman recounted stories of meeting the former Qatari foreign minister Sheikh Hamad at his desert palace and former Russian tycoon Sergei Pugachev, who was then known as “Kremlin’s Banker,” in Moscow where he dined in a grand room lined with bodyguards and portraits of the Romanovs.
Mr Quinlan recalls with some pride being told by Mr Pugachev: “You can have whatever wine you want.
His then new-found status among the rich and influential contrasts starkly with his poor upbringing in Ireland. According to the Vanity Fair article, Mr Quinlan cried during the interview at a private club in Mayfair when he remembered his cash-strapped days growing up.
“To recall his boyhood in 1950s Dublin, ‘my father and mum with virtually no money,’ sends him reaching for a pale blue Hermes handkerchief, weeping shame of origins,” writes Mr Vachon.

:sick:


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 Post subject: Re: Developer McKillen takes first legal challenge against N
PostPosted: Sat Sep 06, 2014 7:19 pm 
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http://www.irishtimes.com/business/padd ... -1.1920590

Paddy McKillen’s battle for three of London’s best-known hotels
Interview: Developer fighting bitter battle to keep Claridge’s, Connaught and the Berkeley


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 Post subject: Re: Developer McKillen takes first legal challenge against N
PostPosted: Mon Sep 08, 2014 9:57 am 
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In the Sunday Times yesterday they said McKillen has bought the Booterstown marsh for €1m


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 Post subject: Re: Developer McKillen takes first legal challenge against N
PostPosted: Mon Sep 08, 2014 10:02 am 
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TheJackal wrote:
In the Sunday Times yesterday they said McKillen has bought the Booterstown marsh for €1m


Would the zoning accommodate a hotel?

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 Post subject: Re: Developer McKillen takes first legal challenge against N
PostPosted: Mon Sep 08, 2014 7:35 pm 
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TheJackal wrote:
In the Sunday Times yesterday they said McKillen has bought the Booterstown marsh for €1m


The one where the Eastern bypass is supposed to go?


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 Post subject: Re: Developer McKillen takes first legal challenge against N
PostPosted: Tue Mar 29, 2016 4:38 pm 
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http://www.estatesgazette.com/berkeley-hotel-sale/?x=1
Quote:
The new Qatari owners of the Maybourne Hotel Group are considering the sale of The Berkeley hotel in Knightsbridge, SW1, for £750m.
(...)
Constellation Hotels Holding, an arm of Qatar Holdings, is offering the hotel directly to select parties on an off-market basis.
(...)
The directors of Constellation – including Hamad bin Jassim bin Jaber al Thani, the former prime minister and foreign minister of Qatar – will only sell the hotel if the desired pricing is achieved.

Constellation Hotel Group won control of The Berkeley when it acquired Maybourne holding company Coroin, buying out the Barclay brothers, who owned a 64% stake in the hotel group, and Irish businessman Paddy McKillen, who held a 36% stake.

Constellation’s Maybourne strategy

When Constellation made its bid for the Maybourne Hotel Group in April last year, its main motivation was to acquire trophy asset Claridge’s, which it intends to hold for the very long term. As a result the group has already turned down a £1bn bid for the hotel and a £1.8bn bid for the group.

Can't accuse them of being sentimental anyway - they're dumping one of the hotels after a wet day of ownership, but as they say, it is the least prestigious of the trio. All over the world, middle eastern companies, individuals and nations have tended to bid the highest prices to secure trophy assets in cities like Paris, London, etc. Now the question is, when they try to sell (and try to achieve more than they paid (and potentially overpaid)), who is going to buy them out?!

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