Global Edition

 

CBRE re-launch Blarney Golf Resort

2.45am 4th May 2012 - Property

CBRE Hotels has announced that in a final push to secure a successful sale, the guide price for the Blarney Golf Resort has now been reduced to €7m – open to offers.

The hotel is being sold on behalf of Mr. Billy O’Riordan of PricewaterhouseCoopers who is the Receiver to The Blarney Golf Resort Limited.

Blarney Golf Resort is a modern purpose built 4 star hotel featuring a trophy golf course designed by two times major winner John Daly. 38 two bedroom golf lodges are included in the sale and the entire property sits on lands extending to approximately 68 ha. (168 acres.). This world class golf resort is being offered for sale by private treaty and as a going concern.

The Blarney Golf Resort is superbly located on the outskirts ofCorkCityapproximately 13 kilometers from the city centre. The resort is situated to the north ofCorkCityin theShournaghValley, 4.5 kilometers from Blarney itself and just off the N20 national route toLimerick.  Blarney has a population of 5310 (Census, 2011) and is home toBlarneyCastleand the world famousBlarneyStone, which attracts over 400,000 tourists annually. Other visitor attractions in the area include the highly successful retail operation at the Blarney Woollen Mills.

The overall site extends to approximately 68 ha. (168 acres ) and the property comprises a fully fitted superb 61  bedroom 4 star hotel with extensive conference space and a fully equipped leisure centre including spa facilities, a championship golf course designed by John Daly, a separate two storey clubhouse with full catering/function facilities, and a well equipped pro shop. Also included in the sale are 38 beautifully appointed two bedroom golf lodges.

The hotel’s accommodation includes 61  spacious and superbly apportioned bedrooms of which 24 are executive rooms  together with a Bridal Suite. Other facilities include the Inniscarra Restaurant, Cormac’s Bar, 3 dedicated conference and banqueting suites, a high quality Health Spa & Club with a 20m swimming pool and a fully equipped gym. In addition, there are 38 two bedroom golf lodges which are also included in the sale.

Blarney Golf Resort also has a championship 6,712 yard par 71 golf course and is the only golf course inEuropedesigned by John Daly, one of the sport’s most charismatic characters. The course, which is now five years old, is set in theShournaghValleyand offers stunning views of the surrounding countryside.

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

Paul Collins of CBRE Hotels commented: “This is an excellent opportunity to acquire a recently developed – developed from new in 2004 – and now well established, top quality Hotel & Golf Resort close toCorkCityand Airport which has enormous further business potential.  While the Resort continues to trade well in line with a recently completed 3 year Strategic Plan, the guideline price has been further reduced to reflect the feedback we’ve been getting from the market on the Resort’s probable market value, given the current economic conditions. The total development costs of the Resort to date are well in excess of €25million and, at this reduced price of around €7 million, the opportunity now exists to purchase this excellent property at a very significant discount to its original overall development cost.

At this greatly reduced price, the excellent facilities on offer throughout the Resort provide a purchaser with a unique opportunity to capitalise on the potential of The Blarney Golf Resort as a   top conference and leisure resort in theMunsterregion. At a purchase price of €7million there is also the obvious opportunity to quickly recoup a substantial part of the purchase price by selling on some of the 38 superb holiday lodges, which are included in the sale of the entire Resort”

For further information contact: Paul Collins or Dermot Curtin at CBRE Hotels – 01 6185500.

CBRE Group, Inc. www.cbre.com also at www.cbre.ie or www.cbre.ie/ni.

Blarney Golf Resort www.blarneyresort.com

       

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