Midleton Park Hotel on sale for €2.5m

The Midleton Park Hotel, the only hotel in the East Cork town of 12,000 people, has been put up for sale for €2.5m.

The receivers, Deloitte, took over the 25-year-old hotel as a going concern last year, and appointed the Dalata Hotel Group to run it pending a sale.

Now, the 79-bed hotel goes on the market this week with Savills in Dublin, again as a going concern, targeting investors and overseas buyers, and stressing its very healthy trade.

The proposed sale is not expected to impact on jobs at the three-star hotel, which has a steady tourist, business and conference/function trades, with spa, leisure centre and function venue, capable of hosting event for up to 300 people.

It was developed by business partners, Tom Kelly and Tom McCarthy, who also developed Jacobs on the Mall restaurant in Cork City’s South Mall, as well as the five-star Kingsley Hotel in Cork city, which has been closed since flooding in the city in Nov 2009.

They also previously owned the Munster Arms in Bandon, which changed hands a number of years ago.

Bank of Ireland last year appointed David Carson of Deloitte in Dublin as receiver to the Kingsley Hotel and to the Midleton Park Hotel, with 26-hotel strong management and marketing group Dalata — which also runs the Maldron brand in Ireland — taken on board to oversee its running with the Midleton hotel management team, promising “business as usual”.

The hotel is on 3.75 acres on the eastern side of the sizeable town, with a rail commuter link to Cork, and serving a catchment from the city and Little Island, as well as tourism in Midleton, Cobh, and Fota.