Mansfield properties bought by overseas investor includes convention and golf sites, reports The Irish Times.
The Citywest Hotel, along with the adjoining convention centre and one of its two golf courses in west Dublin, have been bought by an overseas investor for close to €30 million as part of the sell-off of distressed properties held by the businessman Jim Mansfield.
London asset manager agents Micheles & Taylor are advising the new owner, who has not been identified.
Citywest , Dublin's largest hotel with 789 bedrooms, and the adjoining facilities had been valued at more than €100 million before the property crash. These assets were the centrepiece of Mansfield's substantial property portfolio which was first taken over by receivers in early 2012.
Nama were first to move against Mansfield, securing a €74 million liability order in the High Court. Bank of Scotland subsequently obtained a €214 million summary judgment against him arising from his personal guarantees of debts of various firms he controlled.
Citywest Hotel, along with its leisure centre, is managed by Pat McCann's Dalata company which is also running a range of other hotels in Dublin and the provinces.
The Citywest convention centre can accommodate more than 4,000 people and continues to function under the direction of receiver Martin Ferris. The receiver was advised on the sale of the hotel portfolio by Tom Barrett of Savills.
Yesterday's sale did not apparently include the standalone 300-bedroom Citywest Golf Hotel which has been closed for some time. Most of the hotel rooms were sold as suites to investors. There were unconfirmed reports last night that the ground floor of the golf hotel may have been included in the sale.
Earlier this year a second golfing estate owned by Mansfield, Palmerstown House and 668 acres on the Dublin-Kildare border, was sold for a knockdown price of €8 million to Galway property developers the Comer brothers.
Another valuable asset owned by Mansfield, Weston Executive Airport near Lucan in west Dublin, was sold to a German engineering company for €2.5 million.
The $2bn spent annually on baldness outstrips spending on malaria control reports The Financial Times.
In a speech in London this year, Bill Gates held up baldness as an example of all that is rotten in global health priorities, with overspending on minor ailments of the rich and underspending on the illnesses that affect the poor.
The Microsoft co-founder turned philanthropist pointed out that the $2bn spent annually on baldness consistently outstrips global spending on malaria control, estimated by the World Health Organisation at $1.84bn last year.
Losing follicles may be irksome to the vain, but 660,000 people, mostly African children, die every year for want of mosquito nets and antimalarial drugs.
Mr Gates, who has made tackling malaria the focus of his $38bn philanthropic effort, decried the "flaw in the pure capitalist approach" that allows this nonsensical hierarchy in health spending to persist.
Primark to pay long-term support to factory victims, according to The Irish Independent
Primark - the Dublin-headquartered clothing chain - has pledged to start making long-term compensation payments to hundreds of families impacted by the catastrophic collapse of a factory in Bangladesh this year that killed almost 1,200 people.
Payments will be made from the new year.
The retailer, owned by Associated British Foods, sourced clothing from a company called New Wave Bottoms, which employed 550 people at the Rana Plaza building that collapsed.