New future for Heritage

An emblem of the Celtic Tiger era, the Heritage Hotel in Co Laois, goes for sale this week with €5.5m price guide.

New future for Heritage

Back in the mid-2000s when developed by Portlaoise hoteliers, the Keane family, at a reported cost of up to €100m to include golf course and houses, some individual house sites on the grounds were offered for sale at €500,000 each. Mansions of 5,000 to 7,000 sq ft were selling for between €2.5 million and €2.7 million.

Up to 80 houses in all, many more modest-sized than that, were developed on the original 300 acres of the 2004-built five-star Heritage Hotel at Killenard village, off the M7.

The Heritage Hotel complex went into receivership in 2010.

Now, agent John Hughes of CBRE is selling the hotel and leisure complex — but not the golf course or houses — for receiver Kieran Wallace of KPMG. The golf course was offered separately for sale last year, via Colliers, but hasn’t yet found a buyer, so those seeking to buy both golf and hotel and reunite them have options via the separate agents. The Balesteros-designed golf course, developed in conjunction with Jeff Howes, is on 225 acres, has a 36,000 sq ft clubhouse complex, and a €2.1m guide via Colliers.

According to Mr Hughes of CBRE, the hotel has been very well kept, and is performing well, but there is further marketing scope to build business further. It is currently run by hotelier Pat McCann’s Dalata management. It has 80 weddings booked for this year.

It is about an hour from Dublin, between Portlaoise and Portarlington, close to a M7 junction. It has 98 bedrooms, including three penthouse suites, 10 junior suites and 85 other beds all five-star standard.

There are also restaurant, bar, extensive wedding conference and banqueting facilities, a business centre with six meeting rooms, and a 50 seat auditorium/cinema. The top-rated spa facilities have 20 treatment rooms, and leisure facility with 15-metre pool, Jacuzzi, saunas etc.

CBRE’s John Hughes says the sale “represents one of the best opportunities in years to acquire a five-star hotel in the heart of Ireland”.

* Details: CBRE Hotels, 01-6185538.

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