herald

Thursday 14 December 2017

Licence bid of €80m

PROPERTY

The State backed Irish Infrastructure Fund bid in the region of €80m for the long-term licence to operate the national Convention Centre in Dublin.

The 20-year licence to run the Convention Centre, which is based in Dublin's International Financial Services Centre (IFSC), is being sold by liquidators of Spencer Dock Development Company (SDDC), part of Johnny Ronan's and Richard Barrett's one time Treasury Holdings property empire.

The cash will fund a dividend to SDDC creditors - including biggest lender Nama.

The Convention Centre itself (above) was never in liquidation and the profitable business has debts which it has been paying down.

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