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Bono witnessed €280m Savoy deal on yacht
in Cannes
independent.ie 27 Apr 12 Bono
joined two businessmen and a billionaire Saudi prince on a yacht
in Cannes as a multimillion-euro deal to sell one of the world's
most famous hotels was finalised, a London High Court judge was
told yesterday. The U2 star sat with property developers Patrick
McKillen (pic left) and Derek Quinlan as they concluded
negotiations for the €280m sale of The Savoy to Prince Al-Waleed
Bin Talal in 2004. Mr McKillen is suing the Barclay brothers
over their attempt to take over Coroin, the company which runs
the hotels, and claims Mr Quinlan's share sold by NAMA to the
Barclays should have been offered to him instead under the
shareholders' agreement. Shane
Hickey. |
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Developer faces €3m loss on yacht
shortfall
irishtimes.com 04 Oct 11 Derek
Quinlan, the financier behind the biggest purchases of the Irish
property boom, has been hit with a €3 million judgment arising
from a shortfall on the sale of a repossessed motor yacht. The
judgment was secured by Lombard Ireland, the finance house owned
by Royal Bank of Scotland, in the High Court. Mr Quinlan bought
the luxury boat, a 102ft Falcon 102, for €5 million in 2007 with
loans from Lombard. The vessel was repossessed by the lender
last year and sold for about €2 million, leaving the businessman
facing a shortfall on the remaining €3 million. The yacht was
moored close to Mr Quinlan’s villa at Cap Ferrat near Nice on
the French Riviera. Simon
Carswell. |
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Quinlan's Riviera villa sold already?
irishtimes.com 07 Jul 11
An auction planned for Nice today to handle the sale of a
stunning Riviera mansion owned by troubled financier Derek
Quinlan, may not be going ahead-because the property has
apparently already been sold. An estate agent based in the
south of France estimates that Villa La Carriere at Cap
Ferrat – put on the market after Barclays Bank got a French
court order – has made the guts of €70m. Quinlan, who fled
Ireland in the early stages of the financial crisis, raised
€48 million from AIB when he bought the eight -bedroom
mansion in 2006. The loans soared to almost €65 million when
he refinanced the AIB loans at the Monaco branch of Barclays
Bank. |
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Irish Investor Quinlan holds Fire Sale
wsj.com 29 Apr 11
One of Ireland's top investors who gobbled up trophy
properties in Manhattan, London and Eastern Europe during
the market's go-go years now owes hundreds of millions of
dollars and is holding a global fire sale of his assets.The
sale of numerous properties around the world mark the latest
chapter in the rise and fall of one of the most recognizable
players in Ireland's "Celtic Tiger" economy, which boomed in
the years leading up to the global recession. Mr. Quinlan
also bought a waterfront villa on the Cote D'Azur that had
its own discotheque and was located next to homes owned by
Microsoft co-founder Paul Allen and Roman Abramovich.
Craig Karmin. |
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Quinlan’s Riviera dream home is now Barclays' nightmare
independent.ie 17 Apr 11
God has ways of telling you that you have too much money.
But what is he trying to tell you as you splash out €100m on
a house on the French Riviera? That's what former Revenue
Inspector-turned-financier Derek Quinlan paid for Villa La
Carriere, his stunning waterfront villa in the
über-exclusive town of St-Jean-Cap-Ferrat at the height of
the property boom. Perhaps it made sense then to Mr Quinlan,
and to his bankers at Barclays Bank, who according to
documents lodged with the Land Registry in France loaned him
a total of €64m for his dream home on the Cote D'Azur. |
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Irish Property Magnate Puts Cap-Ferrat Mansion On The
Market
RivieraLife.tv 13 Sep 09
Derek
Quinlan is reknowned as the property magnate with the 'Midas
Touch.' The Irish property tycoon is best known for his
ownership of London's prestige Savoy Hotel and his
Malibu shared property deal with U2 guitarist The Edge.
Brash investments however, even as the property markets
tumbled, seem to have come back to bite him. In June he
resigned as the chairman of
Quinlan Private, the
Dublin property investment firm that bears his name. It
is now reported that his estate on Saint Jean Cap Ferrat,
Villa la Carriere, is up for sale and that he has
abandoned his home town of Dublin for Lausanne in
Switzerland. |
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These
developments have further raised speculation that his property
investment portfolio is not as bullet-proof from the ravages of
the recession as once thought. |
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Intrigue as financier emigrates to
Switzerland
Irish
Independent 13 Sep 09
August on the French Riviera doesn't appear to be in
Derek Quinlan's plans for 2010 judging by his decision
in recent weeks to put his waterfront villa on the
market. Through a series of calls to local real estate
agents, the Sunday Independent has established that the
property -- only recently downgraded in value from €100m
to €75m by Savills International -- is on the market for
what would appear to be the unfeasible asking price of
€150m.
Mr Quinlan has also
recently put his share of the land he purchased with
U2's Dave 'the Edge' Evans in Malibu, California, on the
market, abandoning plans to build yet another bolthole
for himself on the Pacific Coast. The former tax
inspector has enjoyed an especially close relationship
with the members of U2 over the years, even entering
into partnership with Bono and the Edge in 2005
investing in the Clarence Hotel on Dublin's Wellington
Quay. Ronald
Quinlan.
Derek Quinlan quits Ireland for
Switzerland
Sunday Times 16 Aug 09
Derek Quinlan, the former tax inspector turned
international property investor, has quit Ireland with
his family to take up permanent residence in Switzerland.
Quinlan, who has a prestigious portfolio of properties
around the world, has been involved in intense
negotiations with his lenders in recent months as
property values have plummeted. Sources said that
companies connected to Quinlan could owe as much as €1.5
billion to Irish banks, much of it to Anglo Irish Bank,
which was taken over by taxpayers this year.
Brian
Carey.
The investor with the Midas touch
vacates his throne
Sunday Times 12 Jul 09
It is a holiday home fit for a billionaire. With a
private beach, perfect putting greens, an infinity pool
and furniture by the Queen’s nephew, Viscount Linley,
Derek Quinlan’s mansion in Cap Ferrat is among the
neighbourhood’s finest. That’s saying something when the
neighbours include Chelsea owner Roman Abramovich,
Microsoft co-founder Paul Allen and the advertising guru
Maurice Saatchi. The villa, bought for €45m (£39m),
provides a retreat in which Quinlan can relax and
contemplate his next deal. He has spent another €20m on
improvements, including works of art, a lift and a lawn
tennis court. Quinlan, 62, has holidayed in Cap Ferrat
home all summer.
Tom Lyons. |
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Following
the recent urban renewal projects for the rundown Nice
districts of Pasteur and Ariane, the Moulins area near Nice
airport is set for a major facelift to tie in with major new
business and transport hubs in the Plaine du Var. These
include the planned Nice Meridia high tech business park and
multimodal TGV/Tramway terminal. All of these projects will
have sustainable credentials and are set to raise employment
opportunities. Check the full story
here. |
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British property
developer Robert Bourne has given up on his plans to re-develop
the site that until recently housed the Cap Ferrat Zoo, however
the future of the land is now up in the air. Local authorities
are looking at an institutional buy back of this prime piece of
real estate and at who would manage any eventual re-opening of
the zoo.
Check out the latest news as we look at a step by
step history of the battle to save the zoo. |
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Last year
people who had never met Bernie Madoff were queuing up to invest
their wealth with him on the promise of secured returns. This
year he is the scourge of the investmet world. The big question
is how he got away with his $50bn 'Ponzi Scheme' scam for so
long. Now US authorities want to seize his assets. His property
on Cap d'Antibes is relatively modest valued at $1.6m. Madoff's
$7m yacht 'Bull' is moored in the South of France. |
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This
massive project in Juans les Pins was slated to open in 2010
with local developers confident that the
global property crash would not touch the Cote d'Azur. However,
rumours abounded that the project had
ground to a halt and even that it was unviable in the
current economic climate. To address these rumours, Provençal
Investments SA issued a press statement announcing that the project was now 'due for completion
2012'. |
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The
Cote d'Azur has housed a motley crew of dictators and despots.
In this section we feature the properties of the late President
of Gabon, El Hadj Omar Bongo; Zaire's former dictator Mobuto Sese Seko;
Iraqi disctator Sadam Hussein and Belgian King Leopold II. |
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Russia's
post-Communist super rich businessmen, commonly referred to as
the 'oligarchs', have become a fixture on the Cote d'Azur. Many
have bought, and sold, some of the most prestigious real estate
on the French Riviera. We look at some of the recent deals that
have hit the headlines.
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