Citywest : Mansfield’s giant heap of crap
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And don’t forget the “exceptional circumstances” as I’m sure the Citywest Hotel is probably struggling in today’s uncertain times.
An Bord Pleanala have in the space of one short week turned themselves into a joke.
We’re now back at a stage where developers will just go ahead and start building and then hope for planning permission later on in the process, citing the possibility that they’ll go bust.second high profile scheme in a week to overturn the inspector’s report. Makes you wonder why the inspectors bother
Gas, for al the foot dragging by the government about conference centres years ago, we are now getting them all over the place! There must be a recession on!
Receiver appointed to Citywest Hotel
Tuesday, 6 July 2010 17:55A receiver has been appointed to Citywest Hotel and Golf Club today on foot of a request from Bank of Scotland Ireland.
The hotel, in Saggart, Co Dublin, has been open for 18 years and is owned by well-known businessman Jim Mansfield.
Mr Mansfield has not commented but the hotel’s chief executive Sean Whelan has described the decision to appoint a receiver as premature. He said they are considering their legal options.
Mr Whelan said the hotel has been and still is in negotiations with what he called a substantial investor to buy the entire property.
It is believed that HSS, the company which owns Citywest, owes Bank of Scotland Ireland €180m.
The receiver, Martin Ferris of Ferris & Associates, intends appointing an operator to continue trading the business as a going concern. Around 400 people work there.
HSS consists of Citywest Hotel, Conference Centre, Leisure and Golf Resort. The appointment also includes the assets of Jeffel, a land holding company.
Other properties owned by Jim Mansfield also at Saggart, are not affected by the receivership.
These include Palmerstown Golf Club, Finnstown Hotel and Weston Airport.
http://www.rte.ie/news/2010/0706/citywest.html?utm_source=twitterfeed&utm_medium=twitter
@Paul Clerkin wrote:
Receiver appointed to Citywest Hotel
Tuesday, 6 July 2010 17:55A receiver has been appointed to Citywest Hotel and Golf Club today on foot of a request from Bank of Scotland Ireland.
The hotel, in Saggart, Co Dublin, has been open for 18 years and is owned by well-known businessman Jim Mansfield.
Mr Mansfield has not commented but the hotel’s chief executive Sean Whelan has described the decision to appoint a receiver as premature. He said they are considering their legal options.
Mr Whelan said the hotel has been and still is in negotiations with what he called a substantial investor to buy the entire property.
It is believed that HSS, the company which owns Citywest, owes Bank of Scotland Ireland €180m.
The receiver, Martin Ferris of Ferris & Associates, intends appointing an operator to continue trading the business as a going concern. Around 400 people work there.
HSS consists of Citywest Hotel, Conference Centre, Leisure and Golf Resort. The appointment also includes the assets of Jeffel, a land holding company.
Other properties owned by Jim Mansfield also at Saggart, are not affected by the receivership.
These include Palmerstown Golf Club, Finnstown Hotel and Weston Airport.
http://www.rte.ie/news/2010/0706/citywest.html?utm_source=twitterfeed&utm_medium=twitter
I’m glad I sold my Lloyds shares; how in gods name could anyone lend €180m on a complex centred on a distribution shed spec building without Tesco as tenant on a 15 year plus term
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