Johnny Ronan firm buys back Bewley’s building and other ‘crown jewels’ from receivers

Developer Johnny Ronan’s property company has purchased four of its former assets that it surrendered to receivership more than a year ago and brought them back under its control.

Ronan Group Real Estate (RGRE) consented in November 2023 to AIB and Bank of Ireland’s appointment of receivers Grant Thornton with a view to recovering €130 million in loans secured against the assets.

The country’s two pillar banks acquired the loans for their part from M&G Investments in 2022 at a time when the overall portfolio carried a value of some €300 million.

The portfolio of 11 properties includes Bewley’s Cafe on Grafton Street in Dublin, as well as Connaught House on Burlington Road, AIB Investment H...
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