Adam Clayton buys golf club next door
Deal ensures U2 star’s mansion stays protected from development nearby
U2’S Adam Clayton has bought the land on which Stackstown Golf Club is built, the Irish Mail on Sunday has learned.
The rock star – who lives beside the club in the Dublin mountains – bought the freehold of the land in a ‘common sense’ deal struck with the Garda Recreation Club in recent months, according to sources.
Clayton agreed to lease the land back to the golf club – which boasts golfer Padraig Harrington as its most famous son – for the next 65 years in what has been described by informed sources as a ‘good neighbourly agreement’.
In 1982, a 99-year lease on the land was created and vested in three club trustees, including Padraig Harrington’s father Patrick J. Harrington. Despite the land being sold to Clayton, that leasehold, which has now been running for 34 years, has 65 years left.
‘It’s the position the social club finds itself in with the banks, no more than any other club and institution around the country,’ one source revealed.
‘It will make no difference to Stackstown. The land is leased to Stackstown for the next 65 years and it’s the freehold of the land that has been bought so it won’t affect them going forward in relation to any matters at all.’
In the deal, which was finalised last October, Clayton agreed to lease the course back to the club, at a figure understood to be €20-25,000 a year.
Stackstown members are ‘happy’ with the price agreed and the length of the lease, though it was not always the case.
One source revealed: ‘When news broke about this a few months back, it’s fair to say not everybody was happy, and those who were not too keen on the idea were not shy about voicing their opinion.’
But another said: ‘The feeling amongst the majority in Stackstown is that Clayton has given them a fair deal.’ Sources added the deal ‘makes sense’ for Clayton because it will protect the land that surrounds his home. ‘He has his own private house there and it would certainly make sense he would be the one that would buy it by virtue of the fact it would secure his home.
‘It’s an area that isn’t zoned for development, but there’s a bit of land that could be developed and he is protecting his own boundaries. Clayton gets on exceptionally well with the people of Stackstown so it’s a good neighbourly thing to be able to buy something like that.’
The U2 bassist has been living in Danesmoate House in Rathfarnham, since he purchased it in 1984 for €380,000. The mansion is steeped in history and was built in the 18th century by the Southwell family. In 1787 it was the residence of Irish politician and soldier William Southwell.
But U2 fans will best recognise it as the birthplace of the band’s critically acclaimed album, The Joshua Tree.
Meanwhile, Stackstown opened in 1976 as a club reserved for gardaí only. It has since grown into one of the most attractive venues for golf enthusiasts in Dublin.
It is understood the Garda Recreation Club has debts of nearly €15m, which has grown from a €12.7m loan it took out 12 years ago to expand garda sports and leisure facilities.
Last year, gardaí were forced to sell the original Garda Social Club in Harrington Street in south Dublin to low-cost gym operator, Flyefit – after the Irish Mail on Sunday revealed that the social club was in financial difficulty.
‘It’s fair to say not everyone was happy’