Slieve Russell Hotel hits property market at €35m
The iconic property located in Ballyconnell, Co. Cavan, near the Fermanagh Border has entered the property market with an asking price of €35 million (€30.1m).
It was previously estimated that the hotel could sell for a cool €30 million (£26m) and it is expected that there could be bids for the hotel from both Irish and international bidders.
The Slieve Russell has been under the control of the Irish Bank Resolution Corporation (IBRC) since 2011.
The sale is being conducted by CBRE on behalf IBRC liquidators.
The 224-bedroom hotel includes a spa and leisure centre, set on 300 acres, which comprises an 18-hole championship golf course and a nine-hole academy course.
The hotel is hugely popular in the Border region with many travelling from Fermanagh to avail of its services over the years.
Commenting on the sale of the Slieve Russell Hotel Golf & Country Club, Paul Collins, head of CBRE’s hotel division said: “This is a rare opportunity to acquire one of Irelands best known and highly profitable resort hotels. The scale of ongoing investment in the hotel’s facilities and its growing business will appeal to the national and international investment market”.
Earlier this year, Irish property entrepreneur Seán Gallagher, a former Presidential candidate for the Republic of Ireland expressed an interest in purchasing the site.
He told The Currency website: “I would not be interested in acquiring the hotel without the blessing of Seán Quinn, the Quinn family and the local community.”
Others who have expressed an interest in the hotel include Conor McGregor who stated in a video shared widely on social media: “I was looking at the hotel, it’s up for sale at the minute.”
