Latest news with #PaddyMcKillenJr
Irish Independent
3 days ago
- Business
- Irish Independent
Famous Waterville hotel on the market for €6m
It is one of 14 properties linked to Paddy McKillen Jr, and which was put into receivership by lenders Relm Finance in March this year. Selling agent JLL is guiding €6m for the Waterville hotel which accommodates 36 guestrooms and includes a restaurant and the historic Fisherman's bar. It is located on an impressive 1.3-acre beachfront site, with uninterrupted sea views. Dan O'Connor of JLL says a buyer could avail of a feasibility study which shows the potential to more than double the guestroom stock and also introduce new amenities, including a function room and a pavilion-style restaurant. Located between two world-class golf courses, Hogs Head and Waterville Golf Course, the premises dates back to the late 1800s when it was a hunting lodge. After it became a hotel it hosted renowned film personalities like Walt Disney, Charlie Chaplin and Michael Douglas while Mark Hamill of Star Wars stayed while filming on nearby Skellig Micheal.
RTÉ News
07-05-2025
- Business
- RTÉ News
Public access to 'beloved' Wicklow beach secured by Council
Public access to a well-known Co Wicklow beach has been secured after Wicklow County Council announced it has purchased a site overlooking the beach. The land near Magheramore Beach close to Brittas Bay had been bought at auction by Paddy McKillen Jr in 2021, outbidding the local authority for the site. However, his company failed to secure planning permission for a boutique-style holiday resort and leisure centre on the site. In March, the clifftop site was sold again at auction to a Chinese investor for over its guide price of €550,000 with Wicklow County Council once again failing to secure the sale. There were concerns about local access to the beach because the sale involved a gated entrance from the main road to the lands surrounding Magheramore Beach. It has featured in a number of TV and film productions including Vikings and Camelot, the EastEnders spin-off series Redwater, and Amy Huberman's Finding Joy. However, Wicklow County Council has announced it has now purchased the 21-acre site. "This land, which offers panoramic views of the beach and the Irish Sea, was previously owned by the Colomban order of sisters before being sold multiple times," the council said in a statement. It added: "Long celebrated for its natural beauty, clear waters and unspoiled surroundings, Magheramore Beach has become a popular destination for residents and visitors alike." "Wicklow County Council had previously attempted to secure public ownership of the land for beach access. They were unsuccessful bidders at the initial auction in 2021 and again at the auction held in March 2025. "However, after the successful bidder decided not to proceed with the sale, the council was given the opportunity to intervene and complete the purchase of this important coastal amenity. "The acquisition of the land at Magheramore will guarantee continued access to the beloved beach. "Furthermore, it is a step towards the County Development Plan objectives to protect the Special Area of Conservation and the National Heritage Area." Wicklow Municipal District Cathaoirleach Councillor Gail Dunne described the purchase as fantastic news. "The Council has secured continued access to an amenity that will be enjoyed by young people and families for generations to come," she said. Director of Finance for Wicklow County Council and Wicklow District Manager Brian Gleeson described the bidding process as "long and repeated". "Following a long and repeated bidding process, the Council was afforded the opportunity to purchase the land and we immediately acted on this to ensure a swift and efficient transfer of ownership. "I also wish to acknowledge the strong community support that helped highlight the importance of preserving Magheramore Beach for public use."
Irish Independent
07-05-2025
- Business
- Irish Independent
Wicklow County Council secures 21 acre site overlooking Magheramore Beach after buyer pulls out
A BidX1 auction for the beachside parcel of land, which offers stunning panoramic views of the beach and Irish sea, took place on Thursday, March 27, and saw three bidders, including Wicklow County Council, battle it out, before it was sold to an unnamed bidder from China for €613,000, which was in excess of the €550,000 asking price. However, after the successful bidder decided not to proceed with the sale, the council was given the opportunity to complete the purchase of the important coastal amenity. Chief Executive of Wicklow County Council Emer O'Gorman said: 'We are delighted to confirm the signing of the agreement for the purchase of the lands at Magheramore. From the beginning, our aim has been to protect access to this beach and uphold the objectives of the County Development Plan.' The site had previously belonged to Paddy McKillen Jr, who purchased it in 2021, buying it for €700,000 at another online auction, which was well beyond the then asking price of €210,000. Wicklow County Council were also involved in the bidding on that auction, but were outbid. Soon after the purchase of the lands in 2021, McKillen's company Creatively Pacific Limited outlined plans for a boutique holiday resort, with the development to consist of an integrated tourism leisure recreational complex. The primary building would include a gym, sauna, cinema and outdoor pool at lower ground level, a reception bar and restaurant washrooms and outdoor terrace on the ground floor and an event room on the first floor. The proposal also included installation of 48 accommodation pods along the east of the site. Locals raised concerns over whether access to Magheramore Beach would be maintained if planning was granted for the development, and Wicklow County Council refused permission, which prompted an appeal to An Bord Pleanála, who in January refused the application due to insufficient information about the extent of tree removal and the ecological impact assessment, and concerns around effects on the Magherabeg Dunes Special Area of Conservation. Wicklow County Council's acquisition of the land at Magheramore will guarantee continued access to the beach. Furthermore, it is a step towards the County Development Plan objectives to protect the Special Area of Conservation and the National Heritage Area. Cathaoirleach of Wicklow County Council Cllr Paul O'Brien said: 'On behalf of the elected members of Wicklow County Council and particularly the six members of Wicklow Municipal District, we are delighted to welcome the purchase of the 21 acres of land at Magheramore by Wicklow County Council. 'This beach has long been associated with surfing and filming, serving as the backdrop for numerous TV productions including historical dramas such as Vikings and Camelot, the EastEnders spin-off series Redwater, and Amy Huberman's Finding Joy. In recent years the beach has also hosted the annual 'strip and dip', where brave swimmers venture into the waves to raise funds for cancer research.' Cathaoirleach of Wicklow Municipal District Cllr Gail Dunne said: 'This is fantastic news. The council has secured continued access to an amenity that will be enjoyed by young people and families for generations to come. I want to take this opportunity to thank the officials for their efforts in securing the purchase of the land. Magheramore is such a unique and beautiful place. Council ownership of the site is something most of the local community was calling for.' Director of finance for Wicklow County Council and Wicklow District Manager Brian Gleeson said: 'Following a long and repeated bidding process, the council was afforded the opportunity to purchase the land and we immediately acted on this to ensure a swift and efficient transfer of ownership. I also wish to acknowledge the strong community support that helped highlight the importance of preserving Magheramore Beach for public use'
Irish Independent
02-05-2025
- Business
- Irish Independent
Workman's Club Ltd applies for examinership
The company is part of the former Press Up group, which was renameds Eclective Hospitality Group in February following its takeover by the London-based financial firm Cheyne Capital last year. The application for court protection was triggered by demands in respect of guarantees on loans drawn down by property-owning companies outside of Cheyne Capital's control. Patrick Sheehan, the chief restructuring officer of Eclective, said: 'The decision to petition the courts for protection for Workman's Club Limited is a necessary step to protect jobs, maintain operations, and to secure the long-term sustainability of the business. Its current challenges stem from legacy issues and, since assuming control, Cheyne Capital has acted in good faith and committed significant financial resources to stabilise the business. 'Despite these efforts, it is clear examinership is required to address these historic issues to put the company on a sustainable path, and it is business as usual at all our venues.' Venues within The Workman's Club Ltd include the restaurants Angelina's, Dolally, and Isabelle's and the pubs Peruke & Periwig, Mama Yo and Vintage Cocktail Club, as well as the Workman's Club itself, a live-music venue in Temple Bar. It has a total of 362 employees, 55 of whom are full time. It is not envisaged that any will be made redundant. The annual turnover of the company is approximately €29m. During the due diligence process undertaken last year as part of a restructuring, it was discovered the company had given guarantees to RELM Capital in respect of borrowings by other companies controlled by a former shareholder. The potential exposure in respect of those guarantees is believed to be about €9.9m. RELM Capital issued demands to Workman's Club Ltd for payment of €4.5m in respect of the guarantees last March. Management is concerned that demands could be issued for other guarantees amounting to €5.4m. These demands, and the fact that there are insufficient realisable assets to make repayment, led to the decision that the company is insolvent. ADVERTISEMENT Learn more The vacant Odessa nightclub property on Dame Court, which the company is leasing at a cost of about €200,000 a year is now considered an onerous lease given the cost of its refurbishment. The landlord is said to be insisting that reinstatement works to the value of about €1.8m be carried out before it is handed back. The lease was entered into seven years ago with a plan to convert the Odessa into a hotel and restaurant. Some interior work was done, including demolition, which has led to the need for reinstatement. The company is not in a financial position to comply with the landlord's request. Cheyne Capital took over the group last year after turning €25m of debt into equity. Press Up was originally formed in 2009 by Paddy McKillen Jr and Matt Ryan. At its peak it had more than 50 venues and 2,000 employees, and a chain of hotels that were sold two years ago. There has been an investment of up to €18m by Cheyne so far to stabilise and restructure the group. The current outstanding debt is €46.1m. Management entered into Phased Payment Agreements in January with Revenue on its legacy debt, which has been kept up to date. Payment plans have been agreed with key creditors to pay down historic creditor balances Eclective now employs about 850 staff across 24 venues in Dublin. Among the changes it has made since taking over is opening a new Asian restaurant, Kaldero, in the premises previously used by Press Up's Wagamama on St Stephen's Green.
