Latest news with #McKillenJr
Irish Independent
26-06-2025
- Business
- Irish Independent
Paddy McKillen Jr cuts his asking price for Loftus Hall to €3m
When he put the property – which overlooks Hook peninsula and the landmark Hook lighthouse – on the market earlier this year, agents Colliers were guiding €4.5m for it. But they are now guiding €3m. Mr McKillen Jr's development company, Oakmount, is reported to have paid €1.75m for the manor-style house and 68 acres in 2022 and spent millions more on its restoration, with plans to transform it into a luxurious boutique hotel. Reputed to be Ireland's most haunted house, it comprises a detached nine-bay, three-storey house with a total gross internal area of 2,460 sqm (26,487 sqft). Mr McKillen Jr has a passion for refurbishment of old properties and has revamped a number of Dublin hospitality venues in recent years. At Loftus Hall, he has brought phase one of an ambitious redevelopment to near completion with the creation of 22 upstairs bedrooms, restored the roof, replastered the façade and built a new bar and restaurant. He also undertook plans for phase two offering an additional 56-bedroom hotel wing, a spa and fitness centre, dedicated wedding venues, 33 standalone garden cottages, and 10 eco pods positioned throughout the grounds. The building dates back to 1870 and the site dates back to Redmond Hall, which traces its history to 1350. It is named after the Loftus family who undertook extensive renovations in anticipation of a visit by Queen Victoria which never happened. In 1890, the last remaining member of the Loftus family died, and the estate was put up for sale. It was later operated as a convent by the Sisters of Providence and then between the 1980s and late 1990s as the Loftus Hall Hotel. In 2011, the property was acquired by the Quigley family and opened to the public as a tourist attraction centred on its ghostly reputation. The launch of the haunted tours proved very popular at the time, given that many ghost stories have passed from one generation to the next with alleged horrific events that seemingly took place within its four walls. According to storyteller Kieran Fanning in his book Haunted Ireland: An Atlas of Ghost Stories from Every County, one 18th century story relates to Lady Anne Tottenham who, while playing cards there, discovers the man she is playing with has cloven feet. For months afterwards, Anne is haunted by the devil but he is eventually exorcised by a Fr Thomas Broaders. It was speculated that Anne's father may have put out the story of the devil to keep the locals away and to stop them from discovering that Anne was pregnant.
Irish Independent
13-05-2025
- Business
- Irish Independent
Investment company seeks €8.7m judgment against Paddy McKillen Jr
Cabriz Finance Ltd, of Riverside Road, Carrickmacross, Co Monaghan claims Mr McKillen Jr, with an address for communication at Ely Place, Dublin, provided various guarantees and indemnities for four loans to four companies. The companies – Welltrack Ltd, Yarnway Ltd, Ahlstom Ltd and Dontigo Ltd – defaulted on the loans, and Mr McKillen Jr failed to pay the money due despite a demand, Cabriz says. The loans and guarantees/indemnities were entered into in December 2022, January 2023 and August 2023. The purpose was to facilitate working-capital requirements of the firms, it says. An application on behalf of Cabriz to enter the case into the fast-track Commercial Court was rejected by Mr Justice Mark Sanfey. He said it was a requirement of the commercial list that parties should move with expedition, but in this case while there was default in December 2023 it was not until April of this year that the demand for payment was made. There had not been expedition in this case, the judge said, and he would not include it in the commercial list. This means the matter must now go through the normal High Court list. Earlier this month, the High Court appointed an interim examiner to Workman's Club Ltd, part of the former Press Up group founded by Mr McKillen Jr and Matthew Ryan. It was renamed Eclective Hospitality Group in February following its takeover by the London-based financial firm Cheyne Capital. The application for court protection followed a demand for payment of €4.5m in respect of guarantees on loans drawn down by property-owning companies outside of Cheyne Capital's control. Venues within the Workman's Club Ltd include the restaurants Angelina's, Doolally, 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. Their premises are all leased. It has a total of 362 employees, 55 of whom are full time. 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 Mr McKillen Jr. Relm Capital issued demands to Workman's Club Ltd for payment of €4.5m in respect of the guarantees last March.
