Site ‘may be undervalued by €200m’

JURYS DOYLE’S Ballsbridge site is more likely to be worth €400 million — double the price originally envisaged when the Precinct bid for the hotel group first emerged.

Precinct has bid €960m to buy the business, but market sources suggest the true value of the Ballsbridge site could be up to €200m higher than thought. If that is the case, then the pressure on Precinct to come up with a higher bid will mount.

Its original offer of €15.25 per share was rejected outright by the Jurys Doyle board.