Carlton House Hotel & Spa in Kinsale for sale

The Carlton House hotel, located in the county Cork town of Kinsale, has been put up for sale. The four-star hotel is being marketed by Savills and is reported to have a guide price of €4.25 million. The hotel is located just two miles outside Kinsale on a site that overlooks Cork’s scenic Oysterhaven Bay. The hotel and leisure complex has a total of 127 bedrooms, with 70 in the hotel itself and the rest located in 19 three-bed family holiday lodges located in the grounds.

Having suffered from trading difficulties that came with the onset of the financial crisis, the hotel went into receivership in 2012 and is now being sold for receivers KPMG and Friel Stafford. The hotel includes a bar and restaurant as well as a function room for 200 guests in addition to the spa and leisure centre, complete with a 20 metre pool.

Denis O’Donoghue, a hotel specialist at Saville’s was positive about the prospects for the Cork hotel, pointing to a 9% increase in tourism numbers in 2014 over 2013 and adding: “This sector has experienced a strong rebound in activity, particularly over the past two years, driven by improving domestic conditions and an increase in tourism numbers. The Kinsale Carlton is a...Click to read more about Uncategorized

Official Opening of Terrace on the Weir at Cork’s River Lee Hotel

The River Lee Hotel, situated at Western Road in Cork city, recently held the official launch of its new riverside terrace – Terrace on the Weir. The Weir’s waterside location serves as an oasis of calm in the hustle and bustle of Cork city centre. The refurbished space is located in a discreet setting with the beauty of the River Lee all around. The terrace has been renovated thanks to an investment from the hotel’s owners, the Doyle Collection. Terrace on the Weir was completed in a mere two weeks and offers both a sophisticated and contemporary space in an intimate setting that will help guests and visitors to relax and unwind.

The terrace can accommodate up to 50 guests who by day can take advantage of the riverside atmosphere, the variety of colour and enjoy the sun whilst enjoying a lunch or coffee. At night the space transforms into a venue for hosting small, intimate events or enjoying the hotel’s award-winning cocktails, food and entertainment.

The terrace has already picked up a Cork Business Association Better Build Award for enhancing the riverside area. The terrace has a garden-like atmosphere enhanced by the use of large ferns, olive trees and wooden furniture....Click to read more about Uncategorized

River Lee Hotel in Cork for sale

The four-star River Lee hotel in Cork city is up for sale. The hotel is currently owned by one of the country’s largest property development companies, O’Callaghan Properties.

It is reported that Estate agents Savills have been appointed to handle the sale of the Cork hotel which was previously known as the Jurys Cork Hotel. Apart from a great location on the banks of the River Lee, the hotel has 182 bedrooms, a great Fitness Centre and Urban Escape Spa. It contains the popular Weir Bistro and a well-known local bar and an underground car park. The hotel has 29 years left to run on a lease to PV Doyle Hotels which began in 2006. The rent of €2,040,000 is subject to reviews linked to the consumer price index.

Over the last 25 years O’Callaghan Properties has completed a string of retail developments including the Liffey Valley shopping centre in Dublin as well as the Paul Street shopping centre and the Opera Lane retail complex in Cork. Last week O’Callaghan Properties issued a statement explaining its decision to sell the flagship hotel investment. “There is an appetite in the market at present for good quality property investments which are well let with long leases and good covenants. The River Lee hotel investment does not represent a core...Click to read more about Uncategorized

Carlton Hotel Kinsale goes into receivership

The Carlton Hotel in Kinsale was placed into receivership at the end of September. The four-star hotel is located on 90 acres of wooded parkland and overlooks Oyster Haven Bay on the coast of County Cork just 30km south of the city itself. Kieran Wallace, a KPMG receiver, was appointed by Bank of Scotland as the receiver to the hotel. Staff were informed at a meeting held in the hotel at the end of last week.

In spite of this news the receiver insisted the hotel would continue to trade as normal and the jobs of the 95 staff employed by the hotel would be protected.  “The jobs of the 95 employees will be protected and the hotel will honour all bookings that they have received and continue to trade as normal,” said Mr Wallace.

It has been reported that the hotel will continue to trade under the Carlton name but it will no longer be part of the Carlton group. The other eight hotels in the group are understood to be operated independently and they all have different ownership arrangements. They are therefore expected to be unaffected by the receivership of the Kinsale hotel .

The hotel manager said that everyone who had already booked weddings had been...Click to read more about Uncategorized

Price of Cork Hotel and Golf resort reduced to sell

The asking price of the four-star Blarney Hotel Golf and Spa resort on the outskirts of Cork city has been reportedly dropped to €7 million in order to tempt potential buyers into completing a purchase. Located just 12 km to the northwest of Cork city, the project is estimated to have originally cost in the region of €25 million to develop. In 2009 AIB was owed some €20 million by the developer when the bank appointed Billy O’Riordan of PWC as receiver. At that time a price-tag of around €15 million was put on this Cork resort.

As well as the four-star hotel the resort boasts the only 18 hole golf course in Europe to be designed by golfer John Daly. Set in almost 170 acres in the beautiful wooded Shournagh valley, the course also includes 38 two-bedroom golf lodges. Apart from its proximity to Cork city, the resort is only 4 kilometers from Blarney village which attracts some 400,000 visitors a year to the famous Blarney castle and stone. So it is well placed to take advantage of these tourists as well as the recent reported upturn in global golf tourism.

The current operator, Windward Management, is reported to be generating some €3 million in turnover from the hotel which...Click to read more about Uncategorized