Shelbourne Press Release 8.12.2011


"Shelbourne Property Group has invited Bank of Scotland to appoint Michael McAteer of Grant Thornton as Receiver over select subsidiaries and assets of the group and of Garrett Kelleher. Grant Thornton's appointment is limited to companies and assets funded by Bank of Scotland.


The properties in question are 75 St Stephens Green, 46 St Stephens Green, Moore St Plaza and an Andree Putman designed penthouse apartment on Aston Quay, all City Centre properties developed by Shelbourne over the last 15 years.


Shelbourne Property Group acknowledged that while difficult, the decision was made in the best interests of the assets and stakeholders.

Garrett Kelleher commented that "whilst this is a sad day, the Shelbourne Group is grateful to have had the opportunity to contribute in some small way to the improvement of the City Centre fabric with fully let quality office buildings that will hopefully stand the test of time. In particular I would like to thank all those who have participated in these developments; Dublin City Council, all consultants, contractors, past and in particular current employees."