The 5/1 favourite Colbert Station took the valuable Grade B Paddy Power Chase for Ted Walsh and Tony McCoy, the first favourite to win the race since 2004.

The JP McManus owned gelding could have been backed at 10/1 overnight with the race sponsor but he was shortened this morning into 8/1.

He opened on track at 7/1 and was well punted on-course as he went off the 5/1 favourite.

The 8yo son of Witness Box was having his fifth start over fences today and just his second in handicap company.

He raced in mid-division for much of the contest before making headway into fourth at the fourth last fence.

He was second two from home and he hit the front in the early straight before staying on well on the run-in to beat the Gordon Elliott trained, Nina Carberry ridden Romanesco (20/1) by five and a half lengths. Last Time D'albain finished third, a further two lengths back at 33/1 under David Splaine for Liam Cusack while Glenquest was two and three parts of a length back in fourth at 20/1 under Paul Townend for Terence O'Brien.

Race sponsors Paddy Power are paying out on fifth and second reserve In Great Form took that spot at 8/1 under Alan Crowe for Fran Flood.

Ted Walsh said afterwards: "I thought he had an each-way chance but no more than that and I was surprised by how well he travelled through the race. They went a fierce pace.

"He is lightly raced and that was only his fifth run over fences. Like a lot of the others we had this race in mind for a while. I was a bit disappointed with him in Navan but the horse that beat him (Roi Du Mee) was so well in.

"He might be an English National horse in time."

Tony McCoy added: "He travelled very well and jumped very well. I was worried I got to the front too soon as Ted said not to get in a battle. It’s great to have a winner for Ted.

"Credit must also go to Frank (Berry) as he was adamant that I rode this one over the other six JP had in the race."

(Additional reporting by Alan Magee)