Fine Grain buys Johnny Ronan’s Dublin office block Connaught House

Johnny-Ronan News

Fine Grain buys Johnny Ronan’s Dublin office block Connaught House
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Property investor said to be paying more than €70m for Dublin office block

The deal is Fine Grain’s biggest so far and brings its total investment in the Republic to €370 million and 21 properties.UnitedHealth targeted: US healthcare giant faces scrutiny after chief executive’s murderFounded in 2016 by chief executive, Colin MacDonald, who drew on his experience of Singapore’s property market, Fine Grain has mostly focused on assets outside Dublin, providing space for multinational clients.

Connaught House tenants were paying €7.1 million a-year to rent offices there, according to figures published by property dealers Cushman & Wakefield and JLL in April.Mr Ronan completed Connaught House on Burlington Road in Dublin in 2007, as the Irish property market neared collapse. Mr Ronan settled with Nama in 2015 when Colony Capital and M&G Investments helped him clear his €290 million liability to the agency.

The banks appointed Grant Thornton with the consent of his firm, Ronan Group Real Estate. Assets included Bewley’s Café on Grafton Street in Dublin. The receivers put them up for sale earlier this year.

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