Receivers seek €7.4m from sale of Dan Morrissey’s Carlow quarry

Carlow-based concrete and quarrying giant Dan Morrissey Ireland Ltd (DMIL) is to have its main asset put up for sale.

The move comes just under nine years after it fell into receivership on foot of an undischarged debt of €25 million to AIB.

Agent QRE Real Estate Advisers has been instructed by receivers Paul McCann and Stephen Tennant of Grant Thornton to find a buyer for Clonmelsh Quarry, a 332-acre facility located 6km from Carlow Town.

The quarry, which is fully operational, is being offered to the market along with three adjacent parcels of land distributed across 109 acres, at a guide price of €7.4 million.

Taxation on investments: What changes might be on the way?

---

Tax filings: how long do I have to keep hold of my records?

---

Will AI replace stock market analysts?

---

Ibec wants end to retirement relief ceiling

---

The quarry is currently licensed to Plazamount Ltd, trading as Dan Morrissey & Co under a rolling licence agreement from April 2018 at an annual licence fee of €270,000.

The most significant of the three other land parcels comprises a prime agricultural holding of 95 acres. The two smaller holdings, known as the Powerstown and Ballybar lands, extend to 12 acres and two acres respectively.

The portfolio is being offered for sale in one or more lots, with interest expected to come from both domestic and international quarry operators along with local landowners and farmers.