Treasury Holdings Ltd, the development company heading the Spencer Dock consortium, is one of Ireland's leading property companies, with several hundred million pounds worth of assets in Ireland and elsewhere.
The company is controlled by Mr Richard Barrett, a barrister from Ballina, Co Mayo, and Mr John Ronan, the accountant son of a Co Tipperary pig farmer who diversified his interests to include office development in Dublin. Their partner is Mr Harry Crosbie, the docklands entrepreneur. He owns a trucking fleet and developed the Point Depot and Vicar Street, a bar and music venue on Thomas Street. He co-owns the Clarence Hotel with members of U2.
Treasury takes its name from the Treasury Building, its earliest flagship project. This involved converting Bolands bakery on Upper Grand Canal Street into offices, now the headquarters of the National Treasury Management Agency.
Mr Ronan operates from a private office on the penthouse floor of the building, while Mr Barrett is based in a neo-Georgian office block on Mount Street Crescent, also developed by Treasury. It also built Peppercannister House next door.
Around the corner, in Herbert Street, Treasury was responsible for erecting an office block on the former Plantation site. Other developments include an office and residential scheme at Percy Place, on the Grand Canal; an apartment block and swimming pool on the site of the Markievicz Baths on Townsend Street, and a 164-bedroom Westin hotel on College Street.
Formerly flagged for a Hilton hotel, this has been Treasury's most controversial development. Its demolition of historic buildings on the site, which also fronts on Westmoreland Street and Fleet Street, was challenged in the courts by Lancefort Ltd.
Treasury itself has initiated other legal actions, mainly against other developers. Mr Barrett is suing Mr Paul Clinton, chief executive of the Carlton Group, for libel over allegations relating to Treasury's involvement in a site on Moore Street.
One of the company's subsidiaries claimed ownership of this site and lodged a planning appeal with An Bord Pleanala against Dublin Corporation's decision to approve plans for a hotel at the corner of Moore Street and Parnell Street.
Treasury suffered a serious reversal recently when the appeals board rejected its plans to redevelop Stillorgan shopping centre. Mr Ronan and Mr Barrett are also challenging the Howth Special Amenity Area order, as they own land on the East Mountain.
Last year, Treasury diversified into alternative energy and secured over half the wind power franchises distributed in the last round under the Alternative Energy Requirement scheme. Treasury is seeking permission from Dun Laoghaire Rathdown County Council to develop 1.75 million square feet of offices on the Legionnaires of Christ land at Sandyford.