The €1.4 million battle for Bellamy’s pub in Ballsbridge, a beloved watering hole of many of the collars-up D4 rugby fraternity, has descended into a ruck.
The disappointed underbidders for the pub have withdrawn their legal action over the handling of the recent sale process, which resulted in Bellamy’s being sold to a consortium including several members of the Irish rugby team.
The Willowfield group said it plans instead to complain to the Property Services Regulatory Authority over the sale process, which was conducted by Morrissey's, specialists in the pub auctioning business.
Bellamy's was put up for sale recently, guiding at €825,000. The pub isn't in receivership, but charge holder AIB is deeply involved in the process.
It was announced last month that the pub is to be bought by a consortium led by Noel Anderson, who runs the Grafton Lounge (where rugger buggers bring their girlfriends) and the Entourage nightclub in Tallaght (probably more of a soccer crowd).
Anderson's consortium also includes well-known rugby players Rob and Dave Kearney, Jamie Heaslip and Sean O'Brien. It won with a bid reportedly of €1.35 million, while Willowfield apparently bid €1.25 million.
The underbidder (one of a dozen of them) has concerns about the handling of the sealed envelope, best and final bids process, which had a 3pm deadline on Valentine’s Day. Where’s all the love gone?
The underbidder wants to see the time-stamp on the winning bid, but so far it has been unable to do so. Willowfield filed court action trying to overturn the sale, but has now ditched this in favour of the regulatory complaint against Morrisey’s, which declined to comment.
Willowfield comprises the two thirty-something year old sons of John Lacy, a Meath solicitor and county coroner. The younger John is a Harvard-educated lawyer and corporate financier, while Nat is also a lawyer. Both Lacy boys attended the Kildare private school Clongowes with the Kearney brothers, whom they know reasonably well.
Apparently the Lacys are prepared to pay more than €1.4 million for the pub, which may be of interest to AIB. For now it looks like their plans to buy the pub have been kicked to touch.
