Ireland’s Clare Inn Hotel sells for €2.1 million
23 July 2012
Savills has represented receiver Grant Thornton on the sale of Clare Inn Hotel, near Limerick, for €2.1m to Dromoland Castle.
The three-star hotel comprises 183 bedrooms, bars, restaurant, conference and banqueting for up to 450 people. There are extensive ancillary facilities including a full leisure club, kids club, tennis, crazy golf and pitch & putt as well as an extensive car park which can cater for approximately 300 cars. The site extends to approximately 8.5 hectares (21 acres).
The Clare Inn Hotel is located at the Dromoland interchange on the M18 Motorway next to the internationally renowned Dromoland Castle. The property is 15km from Shannon Airport, 31km north of Limerick City and 70km south of Galway City.
Over a four-week high-profile marketing campaign, Savills Hotels & Leisure managed over 100 enquiries and secured a purchaser in the form of Dromoland Castle. The purchaser has plans to invest in the property and the sale secures over 150 full and part-time jobs.
Tom Barrett, head of hotels at Savills Ireland, says: “This sale is indicative of the re-emerging hotel transaction market in Ireland. With almost twenty expressions of interest received, it is evident that investors see value in Irish hotel assets.”
Head of Hotels & Leisure Ireland
Savills Dublin Commercial
+353 (0) 1 618 1415