Ballykisteen Hotel & Golf Resort Co Tipperary Sold
Story published at 12:37, Monday, October 17th, 2016
CBRE Hotels have confirmed the successful sale of Ballykisteen Hotel & Golf Resort, Limerick Junction, Co Tipperary. The property was offered for sale with a guide price in excess of €2m.
The property is conveniently located at Limerick Junction 6km from Tipperary Town and only 30 minutes’ drive from Limerick city. The hotel is prominently situated on the busy Limerick to Waterford Road (N24), an hour’s drive from Cork city and 2km from mainline rail station at Limerick Junction. The area is surrounded by rich farming hinterland and the famed Golden Vale.
Ballykisteen Hotel & Golf Resort is a modern 40 bedroom 4 star hotel which commenced trading in 2005. Well-appointed bedrooms, including suites with balconies, offering views over the imaginatively designed Des Smyth Golf Course and the surrounding countryside. The hotel leisure centre provides a deck level pool, Jacuzzi sauna and steam room at ground floor and a gym at first floor.
The hotel was offered for sale on behalf of Kieran Wallace, KPMG, Receiver to Ballykisteen Development Partnership and Ballykisteen Development Co-ownership. The hotel will be managed by GN Asset Management under the Irish-owned Great National Hotels and Resorts brand.
David Byrne, Co-founder and CEO, Great National Hotels and Resorts group said about its eight hotel purchase in Ireland over the last two years, “Our Irish Owned Group, alongside our investment partners are delighted to have acquired this 4 star resort property which will now be given a very substantial investment program and upgrading to further enhance its excellent facilities.
“The hotel has a superb management and staff looking after its core wedding, event and leisure business alongside an excellent golf course and club membership, which will host its first televised European Professional Tour event in May 2017.
It is understood that the Group has also just finished a substantial private first round funding, following its acquisition of a number of properties around the country for the 2017 launch of its new ” boutique budget ” hotel brand, Great Nite Inn.
John Hughes CBRE Hotels confirmed, “The hotel commenced trading in 2005 and since then has developed as a popular weddings and leisure breaks venue. The proximity and accessibility of Ballykisteen Golf Course has also attracted golfing visitors to the championship Des Smyth designed course. The proximity of the hotel from Dublin, Cork and Limerick cities via the improved road network including the M8 Motorway has benefited business for the hotel and golf course”
Ballykisteen Hotel & Golf Resort www.ballykisteenhotel.com
CBRE Group www.cbre.com