Tag of €45m price for the druids Glen of the family to sell

  • Tag of €45m price for the druids Glen of the family to sell
    Independent.t. E.
    The five-star druids Glen Golf resort-hotel for sale with a guide price of €45m.
    https://www.independent.ie/business/irish/45m-price-tag-for-druids-glen-as-families-sell-up-37262074.html
    https://www.independent.ie/business/irish/article37262073.ece/f9d34/AUTOCROP/h342/2018-08-29_bus_43635950_I2.JPG

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The five-star druids Glen Golf resort-hotel for sale with a guide price of €45m.

North Wicklow resort that hosted the four championship Irish open Golf course, is owned by three Irish families – Lappins, Hurleys and Flinns.

Family owned 349 acres resort has 145 guest rooms, two Golf courses, a Spa and a health club since 1995.

Savills was appointed as a selling agent. Tom Barrett Director hotels & leisure at savills Ireland, said that it will appeal to national and international buyers.

A strong Irish tourist market will likely help the sellers for the high prices, as the performance of the economy and stronger passenger traffic at Dublin airport.

The General Director of the resort Edward Stephenson said that business has “increased over the year and became one of the key points of Irish tourism”.

“It is an integral part of the local community and serves more than 130,000 visitors each year,” Mr Stevenson added.

“All aspects of the business performed very well in recent years and the high rates offered in 2017, revenues rose by 6PC, profit growing by 21pc and business in 2018, shows steady growth. The projected revpar (revenue per room) at €111”.

Sellers also advertise the location of the hotel close to the N11, which connects to the M50, as an attractive selling point for tourists who want to come to Dublin.

It has no brand or management contract, which can make the pool of potential buyers larger.

Club property, known as Woodstock house, dates back to 1770 and was once used as a base of writing and recording musicians, including Mike Oldfield and rod Stewart.

Druids Glen joins the club on the market – with property Kildare, which took place in 2006, the Ryder Cup was put up for sale Michael Smurfit.

For a guide price of €80m. Savills also sells.

550 acres on the banks of the Liffey in Straffan, the K club has 134 rooms.

Smurfit doctor told ‘the Sunday business post’ that his “advanced age” was behind the decision to sell the resort.

The original house and estate was developed in 1832 the family of Barton wine.

It consisting of two Golf courses that have hosted the Ryder Cup, Irish open and European open.

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