Dundrum House Hotel Golf and Leisure Resort in Dundrum, Co Tipperary, which made a profit in 2011 but has been trading at a slight loss since then, is to be offered for sale on the international market at €2,750,000, a fraction of its original value.
Denis O'Donoghue of Savills is handling the sale on the instructions of Kieran Wallace of KPMG who was appointed receiver by the former Bank of Scotland (Ireland).
The hotel has been run by Dalata Hotel Group on behalf of the receiver since April and is available free of this management agreement if necessary.
There is considerable optimism that a buyer will emerge soon for Dundrum following the sale of more than 30 hotels and golf resorts throughout the country this year.
Dundrum House, a classical Georgian manor house dating from the 1730s, opened as a hotel in 1981. The three-star accommodation includes 67 bedrooms, bars, restaurants, banqueting room, conference facilities, leisure centre, gymnasium and pool as well 16 self-catering holiday houses, six apartments and an 18-hole championship golf course designed by Philip Watson. The overall complex is set on 170 acres.
With the resort trading strongly until the property crash, the owners saw an opportunity to broaden its appeal by securing planning permission for a substantial extension to the hotel. The permission, which is valid until 2022, will allow the development of 43 more bedrooms as well as a conference centre, spa and sports facilities including an all-weather sports field and golf academy. Located in the much vaunted Golden Vale, Dundrum is conveniently accessed off the M8 Dublin to Cork motorway 14km west of Cashel town. The resort is a two-hour drive from Dublin and one hour from Cork, Limerick, Shannon and Kilkenny.
The hotel has two restaurants, the smaller one known as “Lady Clementina’s”, can seat 70 guests and was refurbished and relaunched in 2011. The “Conservatory” restaurant, a sun-filled room with modern furnishings, can accommodate 110 diners.
Separately, the hotel operates “The Galteemore Suite” as a banqueting hall as well as for weddings and conferences to seat 350 people.
The hotel was opened by the Crowe family in 1981 and has been a particularly popular venue for weddings. This year it is hosting 80 weddings.
The leisure centre was added in 1999 and has about 400 members. The facilities include a 21m swimming pool, sauna, jacuzzi, steam room, solarium and a fully-equipped gymnasium
The 18-hole golf course encompasses many of the natural landscape features including the Multeen river, the natural woodland and mature trees dating back to the original estate. The course covers 160 acres and opened in 1993. It extends to 7,056 yards, has a par 72 rating and is ranked in the top 10 courses in Munster.
Demand improving There are
about 340 golf-club members and signs are that membership is growing again as the economy improves.
Demand for resort hotel properties has been picking up recently with the sale of the 61 bedroom Blarney Golf Resort and 38 holiday houses for the asking price of €2.5 million. The Heritage Hotel in Co Laois also sold for above the €5.5 million guide price to entrepreneur Adrian Carmack.
