International real estate advisor Savills has been appointed to sell the Blarney Golf Resort in Blarney, Co Cork on behalf of the Receivers Pricewaterhouse Coopers.
International real estate advisor Savills has been appointed to sell the Blarney Golf Resort in Blarney, Co Cork on behalf of the Receivers Pricewaterhouse Coopers. The four-star hotel is located a short distance from the popular tourist town of Blarney and in close proximity to Cork City. The freehold property is situated on approximately 68 hectares (168 acres) and is being offered for sale by private treaty with a guide price of €2.5 million.
The hotel, which opened in phases between December 2005 and July 2006, comprises 61 bedrooms, a bar, restaurant and conference and banqueting facilities with the main function room able to cater for up to 200 people. It has a fully-equipped leisure centre which features a 20-metre pool, children’s pool, sauna, steam room, Jacuzzi and gym, which is popular in the local area and currently has approximately 700 members.
The championship 6,712 yard, par 71 Golf Course was designed by renowned golfer John Daly and is in fantastic condition. The John Daly Suite in the clubhouse offers views over the golf course and tranquil rural setting making it an ideal wedding venue for up to 250 people. The golf club currently has circa 350 members and is a valuable attraction for hotel guests.
Savills notes that the hotel sector in Ireland as a whole enjoyed much improved trading conditions in 2013 largely driven by an increase in visitor numbers and a resurgent Irish brand. Trending.ie reported average RevPAR growth for Cork up 10% to €69 in 2013. Cork remains one of the most popular destinations both nationally and internationally due to the increased number of events held in the city and long standing attractions of the region such as Blarney Castle.
Tom Barrett, head of the hotels and leisure team at Savills Ireland, says: “Blarney Golf Resort presents a significant opportunity to acquire a trading hotel with huge growth potential. The quantum and quality of the property relative to the guide price creates an interesting proposition. This is an excellent opportunity for both owner operators and investors.”