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A Bit Off Blarney

8.50am 14th October 2010 - Property - This story was updated on Thursday, October 14th, 2010

The Cork office of property agents CB Richard Ellis, who are acting on behalf of PricewaterhouseCoopers, the Receiver appointed earlier this year by Allied Irish Bank, has reduced the asking price for Blarney Golf Resort and Hotel from €12.5 million to €10 million in the hope of finding a buyer for the 168-acre property together with 38 golf lodges, a four-star 64-bedroom hotel and a conference centre.

Blarney Golf Resort and Hotel was developed at a cost believed to be around €30m by Kelcar Developments.

The five-year old golf course is the only one in Europe to have been designed by John Daly, winner of two major tournaments and is located about 13 kilometers from Cork city. Set in the Shournagh Valley the course offers stunning views of the surrounding countryside.

Blarney Golf Resort has been run as a proprietary golf club, GUI affiliated and with approximately 600 members. There is an opportunity to increase the number of local memberships and to actively market the resort nationally and internationally.

Paul Collins of CB Richard Ellis Hotels commented: “This is an excellent opportunity to acquire a top quality resort which has enormous business potential.  The price has been reduced to reflect current economic conditions. The excellent facilities offer the opportunity to establish Blarney Golf Resort as one of the best conference and leisure resorts in the Munster region. There is also the potential to recoup part of the purchase price quite quickly by disposing of the 38 superb lodges”

Blarney Golf Resort and Hotel www.blarneygolfresort.com/

Blarney Golf Resort and Hotel www.blarneygolfresort.com/

       

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