Former police station bought by Drayne
NORTHERN Ireland property tycoon Padraig Drayne has been revealed as the private developer who bought the former Ballynafeigh police station on the Ormeau Road in south Belfast.
The police station was sold last December amid reports it may become a retail unit.
However, the Irish Independent understands the property – which was on the market for £900,000 (€1m) – was snapped up by Mr Drayne, from Co Tyrone, with a view to building retail and residential units.
Mr Drayne has been involved with several developments, including with his frequent business partner, Belfast-born investor Paddy McKillen. The two joined forces to build the Jervis Street shopping centre in Dublin more than 20 years ago. Mr McKillen is not involved with the Ormeau Road police station development.
Mr Drayne is involved in plans to build an exclusive multi-million-euro apartment development in the Dublin suburb of Malahide. The developer plans a five-storey building that will include 23 apartments.
Mr Drayne also became embroiled in Mr McKillen’s lengthy legal battle against the billionaire Barclay brothers, in the fight to control the Maybourne Hotel Group. The Maybourne group includes luxury London properties, such as Claridge’s, the Connaught and the Berkeley. Mr Drayne was one of the original investors in the deal, but later sold his shares in the venture to Mr McKillen.