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Co Kildare’s Moyvalley Hotel & Golf Course sold at ‘significant discount’

12.24pm 17th April 2014 - Property - This story was updated on Thursday, April 17th, 2014

Moyvalley Hotel & Golf CourseDermot Curtin of CBRE Hotels has confirmed that the Moyvalley Hotel and Golf Course, Enfield, Co Kildare, has now been sold and the new owners took over the entire Resort property in recent days.

The Moyvalley Hotel & Golf Resort was put on the market some months ago by the Receiver, Mr Padraic Monaghan, KPMG and attracted strong interest from a wide range of parties from all parts of the globe. The guide price was €4m to €5m well below the total development costs of the property.

The new owners are a consortium of successful business people who already have a strong local and international investment portfolio. The group is led by Oliver Brady, the successful race horse trainer and businessman, who has now acquired this magnificent Resort property near Enfield in Co. Kildare, along with his international business partners, Jane Tripipatkul of Thailand, her Irish born son Mark McCarthy, and Rita Shah, business entrepreneur and Board Member of Enterprise Ireland.

Oliver Brady & Rita Shah are both Directors of Shabra Plastics / Recycling Ltd, based in Monaghan and Rita Shah is also a board member of Enterprise Ireland. Their international partners, Jane Tripipatkul and Mark McCarthy, are both London based.

Moyvalley ClubHouse
Moyvalley ClubHouse

The consortium bought the Resort as a going concern and are intent on further developing the Resort’s already excellent reputation as a much sought after wedding & leisure breaks destination. The new owners have retained all of the existing employees at the Resort and plan to expand the Resorts facilities to its full potential and by doing so, provide employment for up to 70 or 80 people over the next three years. CBRE Press Release

The Moyvalley Hotel & Golf Course sits on an expansive 186ha (c.460 acres) estate – which was originally the ancestral home of the More O’Farrells – next to the M4 motorway and close to Enfield, Co Kildare – and has as it’s centrepiece the beautiful and historic Balyna House.

The Moyvalley Hotel and Golf Resort was developed from new in 2006 and comprises a modern hotel building with excellent Conference & Function facilities and 54 stylish and fully air-conditioned bedrooms, bar & restaurant; the ornate Balyna House – a 19th century Italianate manor house with 10 suites and an adjoining Abbey – both of which were recently painstakingly restored; 47 separate two and three bedroom holiday cottages and apartments; a superb inland links style golf course – designed by Open Champion Darren Clarke.

Also included is a palatial two storey self-contained golf clubhouse with an array of function/meeting rooms, pro shop, superb lounge bar with panoramic views overlooking the course, three sided deck terrace, restaurant, spacious locker rooms and a modern, fully fitted green-keeping maintenance building .The Moyvalley Golf Club is a registered club with the Golfing Union of Ireland (GUI) and operates as a proprietary golf club with an active membership.

The Hotel & Golf business already produces significant accommodation, food & beverage revenues from a very strong pipeline of quality weddings and function bookings and, the new owners have extensive expansion plans to promote the top quality golf facilities and to further develop the golf business by attracting new members and more groups/ societies and visitors to Moyvalley.

The property – which is in excellent condition throughout – is to continue as a family orientated Resort with over 80 wedding receptions already booked in for this year and are on track to have a similar number for 2015. The superb Darren Clarke designed golf course will reopen for play on the 9th May next and the plan is to attract many new members at what will be very good value, special introductory rates.

There has been strong interest in the Irish hotel & golf resort market in recent times with several well-known Resort type properties changing hands including Fota Island, Kilkea Castle, Glenlo Abbey, Palmerstown House, Knockanally, the Heritage golf course, New Forest Estate & Golf Course and the Blarney Golf Resort, which was also sold recently.

Dermot Curtin of selling agents CBRE Hotels commented: “The Moyvalley Estate is already a well-established, high quality Hotel & Golf Resort – only 40 minutes from Dublin City and Airport – and one which has enormous further potential. Acquiring this superb Hotel & Golf Resort at a significant discount to the original development cost, affords the purchaser a real opportunity to re-establish Moyvalley as the leading wedding, conference and golf resort venue in the Leinster region.”

CBRE Hotels www.cbre.ie

Moyvalley Hotel & Golf Resort www.moyvalley.com

       

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