Tuesday 24 October 2017

Private investor buys Creggan Court Hotel in Athlone for more than €1m asking price

The Creggan Court Hotel sold for more than its €1m asking price
The Creggan Court Hotel sold for more than its €1m asking price

CBRE Hotels has confirmed the sale of the Creggan Court Hotel Athlone, Co. Westmeath. The sale price was not disclosed but believed to be in excess of €1m guide price.

The Creggan Court Hotel is a 71 bedroom hotel at the Kilmartin Roundabout adjacent to the M6 Dublin to Galway Motorway.

The hotel is situated in the N6 Centre which also includes a Texaco Service Station, McDonalds, Subway and Woodies DIY. Athlone, on the banks of the River Shannon, is the commercial centre for the Midlands region and is easily accessible from all areas of Ireland. The town has established itself as a centre for business, shopping, education and entertainment activities.

The Creggan Court Hotel is a three star hotel which is trading for approximately twelve years.

The hotel is designed with a central ground floor reception with access to The Lemon Tree restaurant and entrance to the Granary Bar.

The bedrooms are located on three levels with passenger lift access. The en suite rooms provide for twin, double and family occupancy. The hotel has four meeting rooms.

CBRE's John Hughes confirmed that "this is a popular Midlands hotel which attracts local, tourist, corporate and leisure business.

"The sale offers the purchasers an excellent opportunity to acquire a strategically located hotel in the heart of Ireland," he said.

The hotel was offered for sale on behalf of Joint Receivers Kieran Wallace and Padraig Monaghan, KPMG.

Creggan Court is being purchased by a private Irish based investor and the hotel is expected to be managed by Great National Asset Management under a new newly developed Irish mid-scale hotel brand called Express Inn. Athlone is a popular base for tourists with many water based activities on the Shannon, historic sites in Athlone and surrounding areas, golf at nearby Hodson Bay and Glasson.

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