The 32-bedroom Coast Hotel in the popular seaside resort of Rosslare Strand in Wexford, where property prices have shot up since Covid, has gone on the market at a guide price of between €3.5 and €4 million.
The vendor is Michael Heffernan, a son of Dunnes Stores boss Margaret Heffernan, who launched the hotel in early 2018, following a major modernisation and refurbishment of what was formerly Crosbie Cedar’s Hotel.
He is said to be selling the Rosslare property to pursue other business interests. He is also the owner of Coast Hotel (formerly the Saltees Hotel) in the nearby Wexford fishing village of Kilmore Quay, which opened in 2017.
Coast Rosslare will go under the hammer in an online auction through the offices of Keane Auctioneers, Wexford on April 8 at 12.30 p.m.
"This is a very busy hotel with serious potential and it will be sold as a going concern. It has a undergone a fabulous refurbishment. The entire kitchens are all brand new and there is a lovely new bar and lounge”, said auctioneer John Keane.
"It has been trading very successfully since opening. It did very well before Covid and more recently, since the pandemic, it has been extremely busy. It’s in the heart of Rosslare, across the road from a Blue Flag Beach.”
The former Crosbie Cedars Hotel was previously placed on the market in August 2015 for €700,000 but the past few years have seen a surge in interest in Rosslare as a holiday and residential location, with a corresponding rise in property prices.
Last year, the disused Iona Hotel building, owned by a local family in the village sold for more than four times its original guide price, achieving €3.36 million in an online auction, with sites of 0.3 and 0.6 acres offered by the same family, sold for €531,000 and €752,000 respectively by Keane Auctioneers jointly with DNG.
“There is great interest in Rosslare Strand at the moment. The area is commanding a lot of attention and properties are achieving very good prices. It’s a great location”, said the Wexford auctioneer.
"In general, there has been increased interest in properties across the south east coast. I have sold a lot of coastal properties. You have people coming from the UK and the US and we recently had some buyers from Belgium. Within Ireland, we are seeing a lot of interest from the north Leinster area.
"Rosslare is not just a summer location, people are coming to the area summer and winter. There is easy access to the N25 and N/M 11 and there is a train station in Rosslare Strand that goes into Dublin every morning.”
Mr Keane said he expects very strong interest in the Coast Hotel sale. “This is an opportunity to acquire a thriving hotel in one of the most sought after areas of the country, in the heart of a quality, seaside location, with a large car park, across from a Blue Flag beach and attractive local amenities. Opportunities like this don’t often come to the market.”