Biography: Paddy Shovlin
Paddy Shovlin is an entrepreneur with a specific interest in real estate. He was educated at Clonkeen College in Dublin. Paddy Shovlin began his business career in 1982 and his commercial interests have spanned a variety of sectors, including restaurants, hotels, hospitals and retail.
At the age of 23, Paddy Shovlin had 900 staff managing various hospitality and retail businesses, which he would later sell. He had a particular interest in the real estate aspects of these commercial operations and this led to the launch of Landmark in 1996.
Paddy Shovlin was a 50% shareholder in Landmark. Landmark was a significant player in the real estate industry internationally. Notable Landmark projects included:
- Killcarberry Park (Gross Value £50m): An award winning industrial logistics park development of 500,000 sqft to include tenants such as McDonald's, TDG (Guinness) and C&C (Coca Cola).
- Beacon Court (Gross Value £300m): A mixed use development of 500,000 sqft including 100,000 sqft. offices, 80,000 sqft hotel, 80 Apartments and the 250,000 sqft. Beacon Hospital.
- Beacon South Quarter (Gross Value £950m): A mixed use development of 2,500,000 sq. feet including 200,000 sqft. offices, 150,000 sqft shopping centre, 900 apartments.
- Harcourt Building (Gross Value £60m): A landmark new generation office building in Dublin CBD of 60,000 sqft. Tenants include Investec bank and Man Investments.
Landmark also purchased and owned several key investment buildings and continually asset managed and extended to add value.
Key properties that were owned by Landmark during this period included the Bank of Ireland headquarters (Gross Value £240m), Rothschild Bank headquarters, King William Street London (Gross Value £83m), Prudential Life world headquarters (Gross Value £83m) and Governors House, Cannon Street London.
Following the 2008 recession, Paddy negotiated with NAMA but ultimately filed for insolvency (May 2012). The process was completed and he was discharged in May 2013 without any order or restrictions.
Subsequently, Paddy Shovlin setup a 50-50 joint venture housing development (£100m GDV) with a private equity partner. The construction is managed by Oakford homes and the first phase has been completed successfully with sales of £30m with phase two and three underway.
Paddy Shovlin also setup Hayfield Homes, which is a medium sized house builder in the UK market, delivering 400 homes per region per year and targeting a revenue of £150m per region. The Midlands Region of Hayfield Homes secured in excess of 300 plots in its first 12 months of operation with a sales value of £110m. It has another 158 plots in solicitor's hands with a further sales value of £47m.
Hayfield Homes has purchased many sites in the past 12 months and is in the process of purchasing a landbank in excess of 2000 plots.
- Some Hayfield developments include:
- Hayfield Chase: A 32-home development in Tiddington with a brand new sports pavilion, scout hut and improvements to the sports facilities at the Home Guard Club. The new £1.5million Home Guard Club was officially opened by the mayor of Stratford in April 2018.
- Hayfield Views: A collection of new homes on the edge of Great Bourton, which are sympathetically designed in keeping with their peaceful surroundings.
- Hayfield Meadow: A delightful collection of one to four bedroom homes for the picturesque village of Hallow in Worcester.
- Hayfield Grange: Outstanding new homes for the vibrant market town of Southam, in the district of Stratford-Upon-Avon.
Hayfield is also progressing with a development on a five-acre site in Banbury, Oxfordshire, which will consist of 43 new two- to five-bedroom apartments, with a total GDV of over £13m.
Hayfield Homes intends to replicate the approach and success of their Midlands region operation with a new regional residential platform that covers the South of England. This will span the area between Taunton and Guildford in the East, encompassing areas from the M4 down to the south coast. The platform will focus on customers who prioritise location and specification, rather than affordability. Paddy Shovlin and Hayfield's team have the expertise to buy land, acquire planning, deliver efficient production and timely sales management to drive returns.
Paddy Shovlin and his team created TERRA Strategic to deliver planning and development expertise specifically in relation to obtaining consents for building plots.
TERRA Strategic has multiple contracts in place and completed its first transaction in 2015 with the sale of the Masonic Temple in Birmingham to a care home group. The business has a target program of four years and 30 projects with a net value of £30m per region.
Examples of Land and developments within the TERRA Strategic portfolio include:
Callow End, Worcestershire (5.7 acres); Cradley, Herefordshire (3.8 acres); Cropwell Bishop, Nottinghamshire (11 acres); Edgbaston, Birmingam (3.3 acres), which was sold in August 2016 to Cinnamon Care Capital; Hawkesbury Warwickshire (72 acres); Leonard Stanley, Gloucestershire (8.8 acres); Longworth, Oxfordshire (5.2 acres); Salford Priors, Warwickshire (4.31 acres); Tetsworth, Oxfordshire (10 acres); Melksham, Wiltshire (12 acres); Highnam, Gloucestershire (two sites of 39 acres) and Offenham, Worcestershire.
In addition to his own business interests, Paddy Shovlin also sits on various boards. A family man, he has a keen interest in sport and has competed in motor racing.