Receiver slashes golf resort asking price to one-tenth of cost

The receiver appointed to a golf resort in Co Cork has instructed auctioneers to further slash the asking price — to one-tenth of its original building cost.

Four months ago, the price tag for the luxury Blarney Golf Resort, completed at a cost of €40 million, was €7m.

However, there were no big offers for the resort which boasts a 61-bed hotel. It is the only golf course in Europe designed by US player John Daly.