Johnny Ronan
Johnny Ronan | |
|---|---|
| Born | John Ronan |
| Nationality | Irish |
| Occupation(s) | Accountant, property developer |
John "Johnny" Ronan is an Irish businessman and property developer.
Ronan teamed up with Richard Barret from Mayo to form Treasury Holdings in 1989. Treasury Holdings' first serious development was the Treasury Building on Grand Canal Street on Dublin’s southside.
The duo became a formidable force, running more than 50 projects in development including the Spencer Dock development, phase 2 of Central Park in Leopardstown and the development of 2,000 homes and an 11-acre public park near Foxrock.
In November 2006, Real Estate Opportunities (in which Treasury Holdings had a 60% stake) purchased Battersea Power Station and the surrounding land for €532 million (£400 million).[1][2] On 30 November 2011, it was officially announced that the REO scheme had collapsed with the debt called in by its lenders and creditors, putting the site in administration.
In October 2012 the High Court appointed liquidators to Treasury Holdings and 16 related companies. The move followed a decision by Treasury not to resist a winding-up application by one of its banks, KBC, over a debt of €55m. Treasury had debts of €2.7bn, €1.7bn of which was owed to the National Asset Management Agency (NAMA).[3]
In April 2015, due to a refinanced €300 million deal with backing from Colony Capital and M&G Investments, Ronan exited NAMA.[4]
References
- ^ "Iconic landmark is sold for £400m". BBC News. 30 November 2006. Retrieved 19 May 2013.
- ^ "REO buys London's Battersea power station". RTÉ News. 30 November 2006. Retrieved 19 May 2013.
- ^ RTE News
- ^ O'Halloran, Barry (5 April 2015). "Developer Johnny Ronan exits Nama". Business. Dublin. The Irish Times. Retrieved 5 April 2015.