Walter Raleigh Hotel: €2.5m plus expected
John Hughes of CBRE's hotels division expects to see strong interest from experienced hospitality professionals and hotel groups alike for the four-star Walter Raleigh Hotel in Youghal, Co Cork, which he has just brought to the market.
Hughes is selling the property on the instructions of its owner, Nick Ryan, and believes it can achieve a price in excess of €2.5m.
The Walter Raleigh Hotel was luxuriously refurbished by Ryan in recent years and its four-star boutique accommodation now comprises 40 well-appointed, en-suite bedrooms - many of which have excellent views overlooking the ocean, the Walter Restaurant and Bar, the extensive ground floor Adelphi Ballroom which can cater for up to 300 guests, and The Blackwater Restaurant at first-floor level.
The property also has excellent, modern and fully-equipped kitchens. The hotel offers extensive car parking to the rear of the hotel.
The hotel is situated on the N25 Atlantic corridor route on the western entrance to the historic and picturesque town of Youghal.
The town is strategically situated at the mouth of the Blackwater River and adjacent to this important main arterial route which carries a huge amount of tourist and commercial traffic from the ferry port at Rosslare, through Waterford and on to Cork city, Cork airport and Kerry. The hotel is situated at the start of Ireland's Ancient East and close to a number of stunning beaches and breathtaking coastal scenery.
Youghal itself is a popular tourist destination conveniently situated 50kms east of Cork city and airport, 25kms west of Dungarvan with Waterford city a further 40kms west. This historic walled town has a local population of approximately 8,000 - which increases significantly during the summer months.
The hotel enjoys breathtaking views over Youghal Bay and the Atlantic Ocean and is named after the town's most famous former resident, Sir Walter Raleigh, whose home is now a local tourist attraction.
John Hughes of CBRE's hotels division said: "This ideal business opportunity will appeal to experienced hospitality professionals and hotel groups wishing to expand. With very little similar competition in this general area, the Walter Raleigh Hotel has exciting potential to further develop to be the premier hotel in East Cork and as a choice for weddings, functions and as a prime holiday destination. The hotel is expected to achieve in excess of €2.5m."