A Limerick businessman’s property investment company is reported to have acquired the stakes it didn’t already own in a €1.4 billion portfolio of London retail assets.
Aidan Brooks is at the head of Tribeca Holdings which is buying up prime retail sites in the UK capital.
The former Limerick property developer is said to have bought out stakes in assets across London’s business districts – from Bond Street and Knightsbridge in the West End to Old Spitalfields Market, an historic covered market near London’s financial district.
It’s understood that the sale of properties worth $500 million in US were used to fund the London acquisitions.
Among the properties which went from the Tribeca portfolio were stores leased to Hermes and Graff Diamonds on Madison Avenue in New York and to Chanel in San Francisco.
In Limerick city, Brooks sold one of his upmarket houses on the North Circular Road. The former Bishop’s residence, worth €26 million, is being developed by Gerry McManus, a brother of JP McManus.
Earlier this year, the company appointed the prestigious Rothschild firm to sell or refinance its properties, situated on Oxford Street, opposite Selfridges’ department store.
Brooks moved all his operations from Limerick’s Henry Street to Berkeley Square, Mayfair in London, in 2011, escaping the economic storm which engulfed other property developers locally.
Last year his estimated fortune, according to the Sunday Times Rich List, was €112 million.
Brooks started his property career aged 18, buying, improving and letting houses in Limerick city centre.
