Its a steal! Proceeds of crime are too good to be true!

hansfrei

John Gilligan's €5m equestrian centre and stadium is being 'sold' off by the OPW for
€500,000. I have so many questions about this. Why are the OPW selling it?
Since when does decent agricultural land sell for €6,000 an acre? Who in their right minds sells a multimillion euro asset by private treaty and opens with such a low asking price?

L1011

hansfrei wrote: »

John Gilligan's €5m equestrian centre and stadium is being 'sold' off by the OPW for
€500,000. I have so many questions about this. Why are the OPW selling it?
Since when does decent agricultural land sell for €6,000 an acre? Who in their right minds sells a multimillion euro asset by private treaty and opens with such a low asking price?

5M is a boomtime valuation. The OPW are selling it as it is now a state asset and they're responsible for state land/buildings. There will be a major scare factor for any purchaser which will push the value down.

LETHAL LADY

Why didn't they sell it in the boom times?

Wacker The Attacker

Isnt that why they go into crime? All money and sh1t

Artful_Badger

We should all chip in to buy it and invite Gilligans and co back. Then when they show up we run em over with our horses !

wazky

Do criminals not build secret lairs anymore?, instead they are buying fancy sheds for horses.

That's the real issue here.

hansfrei

MYOB wrote: »

5M is a boomtime valuation. The OPW are selling it as it is now a state asset and they're responsible for state land/buildings. There will be a major scare factor for any purchaser which will push the value down.

No. Now seriously. 80 acres at face value for farm land is way, way more than €500k. This isn't even close to what Jessbrook is worth. Not even in the same universe.

Highflyer13

Problem here is Gilligan will get out of jail at some stage and probably intimidate whoever buys it to get it back or the little **** will order intimidations from his jail cell. But it does have huge potential to be an events centre close to the N4.

hansfrei

Artful_Badger wrote: »

We should all chip in to buy it and invite Gilligans and co back. Then when they show up we run em over with our horses !

We hould all chip in and buy it - and flip it for four or five times the asking.

newmug

hansfrei wrote: »

No. Now seriously. 80 acres at face value for farm land is way, way more than €500k. This isn't even close to what Jessbrook is worth. Not even in the same universe.

Dunno what universe you're in, but E6K per acre for big spreads like that is spot on.

hansfrei

newmug wrote: »

Dunno what universe you're in, but E6K per acre for big spreads like that is spot on.

Wouldn't get a handful of rocks for that. Links or GTFO

Fred Swanson

This post has been deleted.

wazky

Fred Swanson wrote: »

This post has been deleted.

I'm going to buy it on the behalf of the Fair City cast then.

hansfrei

Fred Swanson wrote: »

This post has been deleted.

After making a very handy million I could make that issue 'disappear'.

newmug

hansfrei wrote: »

Wouldn't get a handful of rocks for that. Links or GTFO

That's what land is making. During the boom, it was E20K per acre for top land, E15K for poorer land. Now top land is making around E8K - E10K, which is approx. 50% drop, roughly in line with house prices. The parcel its sold in has a lot to do with it too, smaller parcels get higher price per acre cos there's more demand for them. Obviously that place will make more than E480K, but not by much. I reckon E580K.

ArmaniJeanss

http://www.farmersjournal.ie/site/farming-Agricultural-land-prices-up-14.3-in-2012--16521.html

€13K an acre in Kildare in 2012 according to the above.

€6K per acre seems a reasonable amount of 'being sold from under nose of a nutcase who may kill you and will almost certainly murder some of your animals or poison your soil' tax.

Mickey H

Whoever buys it will get a knock on the window some night. They'll wake up to the face below looking in at them.

http://i50.photobucket.com/albums/f324/Andy1888/gilliganjbig.jpg

hansfrei

ArmaniJeanss wrote: »

http://www.farmersjournal.ie/site/farming-Agricultural-land-prices-up-14.3-in-2012--16521.html

€13K an acre in Kildare in 2012 according to the above.

€6K per acre seems a reasonable amount of 'being sold from under nose of a nutcase who may kill you and will almost certainly murder some of your animals or poison your soil' tax.

It's handy money. The real value is as I said four or five time the asking. Who are the OPW to be worried about who buys it? Their job is to sell the thing.

Fred Swanson

This post has been deleted.

ArmaniJeanss

hansfrei wrote: »

It's handy money. The real value is as I said four or five time the asking. Who are the OPW to be worried about who buys it? Their job is to sell the thing.

In fairness if you are correct they will get 4 or 5 competing bidders who believe its a steal, then by definition the price will go up until theres a winning bidder at a more realistic level?

JPCN1

Since when has been the asking price the same as the selling price? It does seem cheap, with possibility of irrational future ire from previous owner, but someone will decide what it's worth given all of the factors involved. And, I'd wager it'll be well north of 500k.

newmug

ArmaniJeanss wrote: »

http://www.farmersjournal.ie/site/farming-Agricultural-land-prices-up-14.3-in-2012--16521.html

€13K an acre in Kildare in 2012 according to the above.

€6K per acre seems a reasonable amount of 'being sold from under nose of a nutcase who may kill you and will almost certainly murder some of your animals or poison your soil' tax.

E10K is still the average, and that E13K reference is for Dublin with obvious spillover into the commuter areas of Kildare. We're talking about a farm on the Kildare / Offally / Westmeath border area. E7K-E8K is far more realistic. Hansfrei, why do you think its worth more?

Nino Brown

LETHAL LADY wrote: »

Why didn't they sell it in the boom times?

Where were you with this kind of insight in 2007? The country could still be rich!!

hansfrei

newmug wrote: »

E10K is still the average, and that E13K reference is for Dublin with obvious spillover into the commuter areas of Kildare. We're talking about a farm on the Kildare / Offally / Westmeath border area. E7K-E8K is far more realistic. Hansfrei, why do you think its worth more?

Because theres studs half that size going for four times that right now. Jessbrook is (AFAIK) the whole nine yards. WIth a 3,000 seater stadium as a cherry on top.

daRobot

Highflyer13 wrote: »

Problem here is Gilligan will get out of jail at some stage and probably intimidate whoever buys it to get it back or the little **** will order intimidations from his jail cell. But it does have huge potential to be an events centre close to the N4.

I don't see Gilligan lasting too long out of jail to be honest.

You reckon the criminals who are at the top now, are going to let him establish a foothold again? Doubtful.

mattjack

Maybe he might buy it back himself at a knockdown price.

Fred Swanson

This post has been deleted.

Highflyer13

daRobot wrote: »

I don't see Gilligan lasting too long out of jail to be honest.

You reckon the criminals who are at the top now, are going to let him establish a foothold again? Doubtful.

He may opt against returning to major crime when he gets out but I'd imagine he'll still want his farm back considering the family home is right next door to it and where his wife is living still. A nastier little runt you couldn't meet. He wouldn't be able to sit by and watch someone else on his land that he believes is rightfully his.

Ha, I reckon we all chip in and buy it. Power in numbers and sure to make a few quid back on it some day!

DEFTLEFTHAND

Every Gangster dreams of going legit while still retaining their status and wealth, Frank Costello in NY for eg always referred to himself as a 'businessman'.

This was Gilligan's attempt at it, he was going to make it big in the international Equestrian world, all legal and above board.

L1011

LETHAL LADY wrote: »

Why didn't they sell it in the boom times?

Because Gilligan was holding up the seizure in the courts.

anncoates

LETHAL LADY wrote: »

Why didn't they sell it in the boom times?

Why did everybody not sell in boom time?

srsly78

wazky wrote: »

Do criminals not build secret lairs anymore?, instead they are buying fancy sheds for horses.

That's the real issue here.

There are no tax breaks available for evil lairs, there are however lots of tax breaks available for horsey things!

Guy:Incognito

hansfrei wrote: »

It's handy money. The real value is as I said four or five time the asking. Who are the OPW to be worried about who buys it? Their job is to sell the thing.

If its handy money and theres people out there willing to pay 4 or 5 times the price then there isno way itll sell for 500k. A bidding war will start and the price will skyrocket
Unless you're wrong.......

Guy:Incognito

LETHAL LADY wrote: »

Why didn't they sell it in the boom times?

"Jessbrook was seized more than 16 years ago by the CAB, which only got the go-ahead for the sale last November after a lengthy court battle with Geraldine Gilligan."

ronan45

I would have no problem buying that place if i had the money. Whats he gonna do when he gets out, come murder me? Break my legs? Ohhh I wonder who that was. lol
Ide say he has seen enough jail time for now!
His main worries will be the book deal and the chat shows :cool:

Oh the wife still lives there? lol Ah your all right ill pass!
http://www.leinsterleader.ie/news/local/geraldine-gilligan-wife-of-convicted-criminal-john-gilligan-lives-on-186-a-week-naas-court-hears-1-4760913

realdanbreen

I see in todays Indo that John Gilligan is saying he won't be speaking to the media upon his release next Tuesday, not even for €1,000,000!

sbsquarepants

hansfrei wrote: »

John Gilligan's €5m equestrian centre and stadium is being 'sold' off by the OPW for
€500,000. I have so many questions about this. Why are the OPW selling it?
Since when does decent agricultural land sell for €6,000 an acre? Who in their right minds sells a multimillion euro asset by private treaty and opens with such a low asking price?

The place comes with some attached baggage!

Highflyer13 wrote: »

Problem here is Gilligan will get out of jail at some stage and probably intimidate whoever buys it to get it back or the little **** will order intimidations from his jail cell. But it does have huge potential to be an events centre close to the N4.

He's due out very shortly, a matter of weeks I think.

Edit: Eh never mind - only seeing the post above me now!

Khannie

Mickey H wrote: »

Whoever buys it will get a knock on the window some night. They'll wake up to the face below looking in at them.

http://i50.photobucket.com/albums/f324/Andy1888/gilliganjbig.jpg

Ah yeah. Looks soft. I'd fight him.

gobnaitolunacy

wazky wrote: »

Do criminals not build secret lairs anymore?, instead they are buying fancy sheds for horses.

That's the real issue here.

Horses don't like being cooped up in caves in active volcanoes.

Gambas

gobnaitolunacy wrote: »

Horses don't like being cooped up in caves in active volcanoes.

Hairy white cats on the otherhand...

ronan45

realdanbreen wrote: »

I see in todays Indo that John Gilligan is saying he won't be speaking to the media upon his release next Tuesday, not even for €1,000,000!

God Not another one for the celebrity circuit. I suppose He will be hanging out with Ducie and the "elite" for photos in Krystal :rolleyes:

kerry4sam

CAB are selling off a watch on ebay too from a Limerick criminal (a 9k Rolex watch). See here. People have until October 18th to make an offer

Fighting Irish

He doesn't care, he has plenty of money put away for when he gets out

ronan45

Just a few hours to go for Mr Gilligan !!!! Ide say hes all Excited and derlighteddd:cool:

keeponhurling

Wasn't Gilligan sentenced to over 20 years, seems quite soon for him to be out again

keeponhurling

keeponhurling wrote: »

Wasn't Gilligan sentenced to over 20 years, seems quite soon for him to be out again

Actually just did some googling on this, seems he is being let out early (16 years instead of 22) despite assaulting a prison officer and being caught with mobile phones while inside.
If that's what counts as good behaviour, I'd hate to think what bad behaviour is! Tis a great country!

ronan45

Sure why not ! Model citizen and all that !

zl1whqvjs75cdy

Grand now he can go back to making people's lives a misery, although I'm sure he managed that from prison anyway. I despair for the Irish justice system. I can put up with tax hikes etc. as I do believe we can work our way out of the current down turn but there ain't no working our way out of the shoddy justice system that keeps criminals like Gilligan in the lap of luxury. Honestly if you can stand the jail time (and I'd say his wasn't exactly the toughest) you are far better off to be a ruthless criminal than a hard working joe soap.

qwerty93

The reason why this land is so cheap is simple, because its **** land. Its built more or less on bogland, I heard they had to dig peat out of there when laying the foundations, while he may have been a good man for the drugs, poor John wasnt well educated on the quality of land.

ronan45

http://www.irishmirror.ie/news/irish-news/crime/john-gilligan-walks-free-portlaoise-2372303

he looks well for a man locked up for so long !

Fred Swanson

This post has been deleted.