Friday 20 September 2019

O'Loughlin's Hotel on the market as going concern at €850k

O’Loughlin’s Hotel on Main Street in Portlaoise
O’Loughlin’s Hotel on Main Street in Portlaoise
Ronald Quinlan

Ronald Quinlan

Isobel Horan of Cushman & Wakefield's hotel division is guiding a price of €850,000 for O'Loughlin's Hotel, Main Street, Portlaoise.

O'Loughlin's Hotel is a landmark building within the town and is being sold as a going concern on behalf of the owner, who is retiring.

The property briefly comprises a two-star, 23-bedroom hotel with a bar and restaurant.

It also includes a ground-floor retail unit which is currently leased and producing a rental income of €13,200 per annum.

According to the selling agent, the hotel offers multiple value-add opportunities.

O'Loughlin's is located on a 0.336 hectare (0.83 acre) site in a prominent position on Main Street and is a popular meeting point in Portlaoise, the principal town and administrative centre of Co Laois.

Ms Horan says: "We are delighted to bring O'Loughlin's Hotel to the market, which has a strong history of trading in Portlaoise. We expect strong interest for this centrally-located hotel."

The property will be offered for sale by private treaty with a guide price of €850,000.

Meanwhile, O'Loughlin's Hotel continues to trade on a 'business-as-usual' basis with the existing dedicated management team and staff. Viewing of the property is strictly by appointment with sole selling agent Cushman & Wakefield.

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