The owners of Dunnes Stores have paid €38 million for a shopping centre in Lucan in west Dublin where the anchor tenant is one of its biggest rivals, according to The Sunday Times.
Cork-headquartered Musgrave runs a SuperValu in the centre, where it also has offices. In April last year, before the mall was put on the market, it signed a 20-year lease at an annual rent of €1.6 million. There is also a Dunnes Stores in the centre; the unit has been owned by the retail group since the complex was built in the early 1990s.
The sale price is a steep discount on the €43 million that Savills Investment Management paid for the centre on behalf of its European retail fund in 2017, the report stated.
Patrick Collinson donates to Republican Party in run-up to US election
Patrick Collison, the billionaire tech entrepreneur and co-founder of payments group Stripe, gave hundreds of thousands of dollars to the Republican Party in the run-up to the US election on November 5th, the Sunday Times reported.
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‘The last thing I bought was a slow cooker, and I’m obsessed with it. It’s an amazing item. Come to think of it, I think I’ll buy another one!’
The Limerick man gave $200,000 to various Republican political action committees (Pacs). He donated more than $83,000 to the National Republican Congressional Committee, a Pac devoted to increasing party representation in the House of Representatives, the report said.
The committee spent most of the $249 million it raised opposing Democratic candidates. It spent less than $250,000 on supporting president Trump.
Barrett’s Bartra signs €21.5m refinancing deal for Rathmines development
London-headquartered lender Starz Real Estate has backed Dublin developer Bartra with a new €21.5m senior debt facility to support the refinancing of its 98-room co-living development in Rathmines, the Sunday Independent reported.
Starz’s loan has refinanced the debt related to the construction of the Niche Living development near the Grand Canal and will support its first years of operation. Niche Living Rathmines was purpose-built for co-living and opened in July 2024. According to the report, this is the second collaboration between Starz and Bartra in Dublin, following the €26m financing of Niche Living Dún Laoghaire in February 2024.
Recruiter Hays to let staff go at Irish operation
Recruitment firm Hays Ireland is consulting with its staff about redundancies because of what it said was “a more cautious hiring market”, the Sunday Independent said. The news that 21 of the firm’s 126 Irish staff are to be let go comes amid warnings that Ireland’s multinational jobs boom has stalled.
It also follows on from recent financial results from its parent, the London-based Hays Group, that revealed that its overall net fees had decreased by 12 per cent year-on-year on a like-for-like basis. The drop in the firm’s Irish net fees was down much more sharply, falling 30 per cent in the south and 29 per cent north of the border.
Donohoe to seek third term as Eurogroup president
Paschal Donohoe is to seek a third term as Eurogroup president as the new Government gears up for a major trade and diplomatic offensive to protect Ireland’s competitiveness in the years ahead, according to the Business Post.
The Fine Gael minister, who was appointed as Minister for Finance in the new Government this week, is expected to seek a third term as president of eurozone finance ministers when his second term ends in July.
Donohoe has held the prestigious position since 2020, with sources close to the Dublin Central TD saying they expect him to put his name forward again this summer.
Tesco’s Irish boss gives view on dealing with Trump
Ken Murphy, the Irishman leading Tesco’s global business, has warned Ireland not to “overplay its hand” with Donald Trump as it could risk damaging its economic relationship with the United States, the Business Post reported.
“If I was Ireland, I’d duck [in a trade war]. I think we’re pretty good on our feet. I think Ireland punches above its weight in terms of its influence on the EU and in terms of the US. I think it shouldn’t overplay its hand, by the way, with the US. I would be nervous about that,” Murphy told the Chartered Accountants Ireland annual dinner on Friday evening.
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