Line-up of tenants battle over Grafton Street
Only four months after opening the Cos fashion store on Dublin’s Wicklow Street, the giant H&M fashion group has emerged as the favourite to put another of its luxury brands, & Other Stories, into the former A|wear shop on Grafton Street. The letting is likely to be confirmed later this month.
RBS shortlists for Project Achill Final Round
Royal Bank of Scotland has selected a shortlist of three private equity funds and one investment bank – Lone Star, Cerberus Capital Management, Oaktree Capital Management and Deutsche Bank – to progress to the second and final round for the nominally-valued €1.2bn Project Achill portfolio, following first round bids which were submitted on 1 August. The four finalists are understood to have bid for the majority of Project Achill, which comprised 31 separate borrower connections over six subpools originally extended to Ulster Bank, an RBS subsidiary.
New partnership in Northside Shopping Centre
Patron Capital Partners has formed a new retail and residential partnership with Brian O’Callaghan, the son of well-known Cork developer Owen O’Callaghan. Patron has already begun working on its first joint project with Mr O’Callaghan to operate and expand the Northside Shopping Centre on the northern fringe of the M50 in Coolock, Co Dublin.
Eircom plans transfer to Jersey
Eircom has announced plans to transfer the assets and liabilities of its main operating company to a new entity incorporated in Jersey. Last April, Eircom announced it was undertaking a formal review, advised by Goldman Sachs, Rothschild and Morgan Stanley, of its future “strategic options”, including a possible flotation that could value it at between €2.5 – €3 billion.
Microsoft to build Mega HQ in Leopardstown subject to levy
Us computer giant Microsoft has been granted permission to build new headquarters in Leopardstown in Dublin to accommodate up to 2,000 staff, subject to €8m council levy.
Shelbourne Hotel acquired by US property investment group
The Shelbourne Hotel has been acquired by US property investment group Kennedy Wilson, which is planning to invest millions of euro into the business to build on its status as the top five-star hotel in Dublin. This will include a facelift for the hotel’s facade, which is considered a “priority project”. Plans are also being developed to add a hair and beauty salon to its existing spa facilities, and to refurbish its 19 suites and public areas.
