Monday 19 February 2018

Two regional hotels go on the market with combined guide price of more than €3m

Jackson’s Hotel in Ballybofey is on the market for €2.3m
Jackson’s Hotel in Ballybofey is on the market for €2.3m
Peter Flanagan

Peter Flanagan

DTZ Sherry Fitzgerald have been retained as agents for two regional hotels with target prices of some €3m.

The firm is seeking €2.3m for Jackson's Hotel in Ballybofey, Co Donegal and €700,000 for the Cedars Hotel in Rosslare, Co Wexford.

Jacksons is a four star 138 bedroom hotel. It has some of the largest conference and banqueting facilities in the county.

According to the agents, the sale represents an opportunity to run a highly profitable hotel, only 20 minutes drive from both Donegal Town and Letterkenny and 40 minutes from Derry City.

The conference and banqueting offering comprises three large banqueting suites, three meeting rooms and two boardrooms. The Finn Suite caters for 1,500 theatre style and 700 banqueting style. The Pyramid Suite provides for 570 theatre style and 500 banqueting style and the Drumbow Suite provides for 240 theatre style and 160 banqueting style. The meeting rooms offer board room and class room style format.

There is also a leisure centre featuring swimming pool, sauna, steam room, Jacuzzi and gym together with off street parking

The hotel benefits from its proximity to Derry Airport, approximately 40km to the east, providing direct flight connections to Glasgow, Liverpool, London, Faro and Alicante.

"Jacksons Hotel benefits from excellent facilities offering an incoming purchaser an exceptional business opportunity" Kirsty Rothwell, director and head of trading assets at DTZ Sherry FitzGerald

Cedars meanwhile is a 34 bedroom three star hotel on Rosslare Strand opposite Rosslare Beach. The hotel has recently ceased trading and is currently being sold with vacant possession on the instructions of receiver, Ken Tyrrell of PwC.

The hotel offers a number of facilities including a bar & lounge, function room and night club area with independent access. The function room can cater for corporate conferences and weddings. The bedrooms are situated over three floors in a separate wing of the property.

The sale also includes, two derelict houses with rear gardens located directly opposite the hotel.

Most of the hotel is laid out in single storey, with the bedrooms comprising a three storey block.

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