The jet-set life of
Tyrrelstown developer lives on a giant estate with a private airstrip and a Harrier jump jet
AN INDOOR swimming pool, tennis courts, a putting green, landscaped gardens – and a private airstrip for his collection of planes...including his Harrier jump jet. Welcome to the opulent world of NAMA developer Eugene Larkin.
Despite being virtually unknown to the general public, the low-key 55-year-old is responsible for the massive Tyrrelstown development in north Dublin, the biggest housing development in the history of the State. The huge project includes more than 2,000 houses, a shopping centre, schools and a €40m hotel.
More than a decade on, Mr Larkin’s grandiose schemes are a distant memory and the State is taking over a large portion of his debts and helping his business survive.
NAMA has at least two acquisition orders on land and properties belonging to the developer here, and a multimillion-pound loan book linked to property deals in the UK. But while we have assumed the burden for the risks taken by his company, the developer still retains a lifestyle of extraordinary affluence at his Co. Meath home.
Set amid 60 acres, Mr Larkin lives in the stunning Dolly’s Grove, a sprawling estate close to Dunboyne Castle. The property comes with an 800m fully tarmaced airstrip and adjacent aircraft hangar. Both Mr Larkin and his youngest son Richard, who is co-director of Troctolite Ltd – formerly Twinlite Developments – are licensed pilots.
The main house, a protected structure, dates from the 18th century. The gardens that surround it contain a number of ostentatious water features and ornate stone sculptures.
It’s a long way from his youth when he left Galway to come to Dublin and work as a bricklayer. The developer, who has another son, Michael (also involved in construction), is well-known to locals but described as a recluse.
Curiously, land registry documents show the registered owners of the land to be solicitor Patrick Sweetman and Dr Andrew Jordan, a pathologist based in Ballsbridge, Dublin. There are no charges or mortgages lodged against it. When contacted by the Irish Mail on Sunday this week, Mr Sweetman refused to explain his connection with the land. ‘Client confidentiality forbids me from commenting about this,’ he said.
Mr Sweetman subsequently declined to reveal who his client is. However, a number of planning applications have been made to Meath County Council by Mr Larkin in relation to Dolly’s Grove. It has also been listed as Mr Larkin’s address at the Companies Registration Office since early 2004.
This week, Twinlite was offering the front gate lodge for a monthly rent of €1,000.
During the boom years, Twinlite was one of the biggest players in the Dublin building scene. Since then, however, it has made few land purchases except for acquiring a site next to Mount Argus, near Harold’s Cross, for €20m.
Until recently, Mr Larkin’s portfolio also included office developments in London. He is co-director of UK-based company Shieldpoint Limited alongside fellow developer John Flynn.