O’Flynn in pole position to snap up €450m Project Clear

Sources confirm O’Flynn’s new backer had lodged a bid for the entire loan book

1st November, 2015
Michael O’Flynn

Cork developer Michael O’Flynn is among the favourites to land Ulster Bank’s €450 million-rated Project Clear, one of the largest land banks in the state, which is seen as key to alleviating housing supply concerns.

Sources close to the process confirmed that O’Flynn’s new backer, US fund Avenue Capital, had lodged a bid for the entire Project Clear loan book. O’Flynn is co-party to the bid, and would deliver housing on...

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