Howard eyes second British airport

Property investor Howard Holdings is seeking to buy Southend regional airport in England.

Property investor Howard Holdings is seeking to buy Southend regional airport in England.

The airport's owner, British company Regional Airports, has put Southend up for sale, and the Irish developer is understood to be considering a bid.

Howard Holdings bought 80 per cent of Coventry regional airport in the English midlands two years ago for a reported €14 million, and at the time said it was interested in buying other such properties across Europe.

The company is attracted to Southend as it would tie in with Coventry, industry sources told The Irish Timesyesterday.

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However, the firm is likely to have a fight on its hands as the same sources speculated last night that Southend, which is close to London, could attract bids from powerful rivals.

One name mentioned was Australian bank and investment house, Macquarie, which has a division that specialises in buying infrastructure.

It is thought Southend would at least match the price paid for Coventry. Regional Airports said that it has received expressions of interest in Southend.

Howard has a management partner, Anglo American group, Convergence-AFCO Holdings in Coventry. It owns 20 per cent of the property. It could not be established yesterday if Howard intends using a similar arrangement if bidding for Southend.

Howard Holdings is headquartered in Cork and has been active investor in the Irish and British markets for over two decades.

Its chief executive, Greg Coughlan, founded the company along with Frank Gormley. In late 2006, the pair parted amicably and Mr Gormley established Howard Eurocape, which is focused on developments in South Africa, Ireland and some emerging markets. Howard continues to look for projects in Ireland, Britain and Europe.

Barry O'Halloran

Barry O'Halloran

Barry O’Halloran covers energy, construction, insolvency, and gaming and betting, among other areas