With everything that's been going on with the Press Up group in recent weeks, I haven't read anything yet on how this might affect the proposed development at Magheramore, Co. Wicklow, so I figured I'd voice some thoughts here.

For those who may have missed it, Press Up (the behemoth Irish hospitality chain) has been facing some serious difficulties in the business. Long story short (think large overdue debt, restructuring, equity ownership transfer etc) a UK-based asset management firm (Cheyne Capital) has now (reportedly) effectively taken over control of the group.

So what are the implications for the proposed boutique hotel resort (with cinema 🙄) at Magheramore? The planned development has been slated to cost in the region of €40million (which incidentally, is a little less than the €45million that Press Up reportedly owes Cheyne Capital). Given reports that Cheyne Capital are poised to invest about half that figure (€20 million) into the business- would risking capital on a new venture be on the cards for Cheyne? Hard to say, although I would be cautiously optimistic that wouldn't be their first priority. It's becoming abundantly clear that the Press Up (Oakmount/Creatively Pacific) group that submitted the initial planning application in April 2023 isn't the same Press Up as today.

Bear in mind, this is all assuming that planning permission will be granted, and An Bord Pleanála will uphold Press Up's appeal (following initial rejection by Wicklow County Council, buoyed by a raft of public objections), which is by no means a foregone conclusion. As things stand (on 3rd October 2024) the case is still pending with An Bord Pleanála, although it was initially due to be decided by October 31st, 2023!

With a 4th National Biodiversity Action Plan now in motion, combined with the recent passing of the Nature Restoration Law, one would hope that critically important coastal ecosystems be prioritised over new tourism developments (but no guarantee of course!).

One might wonder then, will the site potentially find itself back on the market? Will there be another opportunity for Wicklow County Council to purchase the site and preserve its rich biodiversity? Or, similar to the current campaign for the Glen Of the Downs (spearheaded by Cllr. Jennifer Whitmore, perhaps the State could step in and purchase the land in order to conserve & increase an existing SAC, with all the added value that brings to the thousands of people who visit these places. With €3 billion allocated in the recent budget for strategic investment in the Infrastructure, Climate and Nature Fund (ICNF), it's hard to think of many projects that would be more suitable to this type of capital allocation (certainly not in Co. Wicklow).

It all remains to be seen how things will pan out however. There is so much that could shift & change in the coming weeks. 

📸 The image generated is from the following Microsoft Designer prompt 😄: An illustration of a man doing pressups on Magheramore beach in County Wicklow, Ireland in the style of Japanese artist Toshi Yoshida