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Wealth of Irish takes a tumble

By Donal Buckley

Only 13 people with connections to Ireland have made it into the latest UK property Rich List - down from 30 in 2009.

Investor Dermot Desmond is 13th with around £1.3bn, which includes a £20m investment in UK quoted companies. He takes top Irish slot from horse breeder John Magnier, down from 18 in 2009 to 33 as his wealth is estimated to have fallen £20m again this year to £520m. Ex-bookie JP McManus is up from 39 to 36 despite his wealth dipping £10m to £480m. Magnier and McManus are partners in Sloane Capital, with properties estimated at £1bn. Lagan Group owners Kevin and Michael Lagan rose from 67 to 61 despite a £50m drop to £350m.

Stephen Vernon, head of Green Property, has slipped three places to 65 as his wealth is estimated to have dropped £70m to £280m. Dr Gerard O'Hare, who owns Parker Green and shopping centres in Carlow and Newry, has held steady at 78 and £220m. The Brennan Bakery family, whose property interests include the Versace shop in London's Bond St, are up from 101 to 82, although their wealth is said to have risen only £4m to £201m. Industrial property specialist Ken Rohan has dropped 22 places to 126 after an estimated £10m drop to £137m.

Mondello Park owner Martin Birrane is down 24 places to 176 with wealth down £25m to £85m. Cork developer Owen O'Callaghan is down 20 to 208 as his wealth dropped £9m to £71m.

Harcourt Holdings chief Pat Doherty is down from 84 to 208 after a cut of £27m to £66m.

Mark and Kathleen Kavanagh of Hardwicke property company are down one place to 211, with a fall of £4m to £65m. The survey is published by UK property magazine Estates Gazette.


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