'Rare' chance to acquire Galway Hotel for €2.5m
Published 06/10/2016 | 02:30
A hotel situated within a short drive of Galway city has been brought to the market with a guide price of €2.5m.
Opened in 2008, the Ard Rí House Hotel in Tuam is being sold by Savills Hotel & Leisure on the instruction of receiver Gearoid Costelloe of Grant Thornton.
Currently let to an operator on a short-term lease, the property is available by way of vacant possession should the purchaser require. The property consists of 51 bedrooms, a bar, restaurant and extensive conference and banqueting facilities. The latter includes Dick Dowling's Bar and the Kiltevna Room Restaurant.
While Savills estimates that 56pc of Cork bedroom stock and 63pc of Limerick bedroom stock have been transacted in recent years, just 26pc of Galway hotel bedrooms have changed hands, marking the Ard Rí out as a relatively rare opportunity to acquire a hotel within Galway and its immediate environs.
Situated on the main Galway-Mayo road, the Ard Rí House Hotel is located on the edge of Tuam, providing an ideal base from which to explore the west of Ireland, with Galway City and the 'Gateway to Connemara' only a short drive away.
Aaron Spring of Savills Hotels & Leisure said: "The Ard Rí House Hotel has traded strongly and it benefits from a mix of local and tourist business.
"The hotel sector in Ireland is enjoying much improved trading conditions."