Down Royal's 2019 prospects improve as deal for tangible assets edges closer

Negotiations between the incumbent Down Royal executive and its Merrion Property Group successor to agree a fee for crucial tangible assets such as hurdles, fences and railings are understood to be improving to the point that a deal could be struck this week.

Relations between the outgoing Down Royal Corporation of Horse Breeders and Dublin-based Merrion, which is owned by Michael Roden, have been strained ever since Merrion revealed its ambition not to renew the 15-year-tenancy that expires on December 31.

However, after much haggling it is understood a fee has been broadly agreed in principle, although issues pertaining to the minutiae of the transfer have still to be thrashed out.