Four-star Clonmel Park Hotel at €4.8m
Senior vice president Dan O'Connor of agents JLL is quoting a guide price in excess of €4.8m for the four-star Clonmel Park Hotel in Clonmel, Co Tipperary.
The property is being offered for sale on behalf of the Poppyfield Hotel Consortium with effective freehold title and is subject to an occupational lease with a leading national hotel operator.
Situated in a highly accessible location in Clonmel, Tipperary's largest town, the hotel comprises 99 guest rooms, and has an established trading history and well-invested full-service offering.
The Clonmel Park Hotel also includes state-of-the-art conference and banqueting facilities. The hotel also offers guests and visitors the Wheat Bar & Bistro, Howard's Restaurant and a large and popular leisure centre and ECO SPA. The leisure centre includes a fully-equipped gym, 20-metre heated indoor swimming pool, sauna, steam room, jacuzzi, treatment rooms and fitness studios.
Commenting on the opportunity the hotel presents for the prospective purchaser, Dan O'Connor of JLL's Hotel & Hospitality Group, says: "The Clonmel Park Hotel is a high-quality hotel investment and the sale is expected to attract substantial buyer interest. With provincial Irish hotel market RevPAR growing by over 11 per cent last year, and a rent review upcoming in 2018, this leased investment opportunity offers very strong rental growth potential".
Viewing is strictly by appointment through JLL.