McKillen Jr buys Dunboy Castle in West Cork, with plans to operate it as a destination resort
Despite millions of euro having been invested in Dunboy Castle on the Beara peninsula in West Cork, the planned resort never opened due to the global financial crisis more than 10 years ago. File picture
Property developer Paddy McKillen Jr has acquired Dunboy Castle, the stalled luxury hotel development in Castletownbere in Co Cork.
The purchase has been made by Oakmount, Mr McKillen’s property development company, while his Press Up hospitality group will ultimately operate the resort complex when completed and launched.
While no purchase price has been confirmed, Dunboy Castle was on the market for more than €2.5m.
The 84-bed, 120,000 square foot castle is located on more than 40 acres of land overlooking Bantry Bay.
The Dunboy resort has never opened, with its launch by its previous owners stalled by the global financial crisis more than 10 years ago, despite millions of euro having been invested.
The new owners said they will bring the historic property to completion and open it as a “destination” hotel and resort, which will include luxury rooms and suites, a spa and swimming pool, gym, and a separate space for weddings and events.
The property — located around an hour and a half from Cork City — retains many of the original castle’s features in its refurbishment. No timeline for its opening has been indicated.
The Dunboy deal marks Mr McKillen’s second large property purchase in as many weeks. It was reported last week that Oakmount had acquired Loftus Hall, an empty old country house reputed to be the most haunted house in Ireland, which is situated on the Hook Peninsula in Co Wexford.
As with Dunboy Castle, Loftus Hall will be operated by the Press Up group, and will be resurrected as a luxury destination hotel.
Oakmount and Press Up — which are both co-run by Mr McKillen Jr and his business partner Matt Ryan — are also in the midst of revamping the old Larry Murphy’s pub site on Dublin’s Baggot St, which is adjacent to the rebuilt and redeveloped ESB headquarters, which fronts onto Fitzwilliam St.
Meanwhile, the McKillen Corporation — which envelops all of Mr McKillen’s businesses including Oakmount and Press Up — was also recently unveiled as the buyer of Skelligs Chocolate, the Kerry-based confectionery and cafe company.
