Friday 14 December 2018

Singapore businessmen buy Sheen Falls

Sheen Falls Lodge, Co Kerry
Sheen Falls Lodge, Co Kerry
Samantha McCaughren

Samantha McCaughren

Two Singaporean businessmen with strong Irish links have emerged as the new owners of luxury hotel Sheen Falls in Kenmare, Co Kerry.

Staff have been informed in recent days that the five-star hotel has been acquired by Dr Stanley Quek and his business partner Peng Loh. The pair previously bought the Trinity Townhouse in 2016 for €7m.

Quek, who was elected as one of Trinity College's pro-chancellors earlier this month, has invested in several Irish properties over the past number of years.

He was born in Singapore, but moved to London in 1960 with his family, before graduating from Trinity in 1972 with a degree in medicine. He has a lecture theatre named after him in the Trinity Biomedical Sciences Institute.

Investments have included properties on Molesworth Street and Baggot Street in Dublin.

He is believed to have bought 75 Merrion Square, which was put up for sale earlier this year with a €4m asking price. It is let to Enet.

He was the Honorary Consul General representing Ireland in Singapore from 1994 to May 2000 and is chairman of The Ireland Funds Singapore.

Quek's business partner Peng Loh is a hotelier and restaurateur who was born in Dublin in the 1970s to Singaporean parents who were practicing medicine there at the time. He studied in London before returning to Singapore over 20 years ago.

Loh is a member of Singapore Tourism Board's (STB) tourism consultative council.

As recently reported in the Irish Independent, Sheen Falls changed hands for around €17m and the new owners are understood to have plans to further develop the property.

Sheen Falls was developed in the late 1980s by Danish shipping businessman Bent Hoyer and the hotel opened in 1991.

It was bought by Palladian Hotels, which is chaired by Nigel Chapman, in 2013 for €5m, and has undergone an overhaul since then. Palladian had looked at growing the 68-room premises into a 100-bedroom hotel.

Sunday Indo Business

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