Waterford Castle hotel sells for more than €6m

A Waterford-born businessman who has lived in Australia for the last 30 years has emerged as the successful buyer of Waterford Castle, paying over €6m for the luxury hotel, set on an island on the River Suir just below the city.

Waterford Castle hotel sells for more than €6m

The hotel castle’s buyer is a 50-year old business investor Seamus Walsh, who saw off interest from home and away to secure the historic four-star castle hotel, golf course, and 43 luxury lodges — which at one time had individual price tags of €850,000 — all on over 300 acres.

Waterford Castle was sold by Marcus Magnier of Colliers International, who would only confirm a sale to a local family interest with Australian business connections. It had a €4.5m price guide when offered to the market in November

Last night, Waterford-based estate agent John Rohan of Sherry FitzGerald Rohan confirmed that he had acted for the buyer who, he said, was completely committed to the acquisition of the island and hotel and to spending further on it.

“Even before the receiver was appointed, he was on to me about buying it, he’s completely passionate about it,” said Mr Rohan.

Colliers confirmed “there was huge interest in this sale, from just about every continent, and because of the interest we decided to put it to formal tender”. Mr Magnier added that a formal statement on the sale would issue today.

Mr Magnier — who was also involved in the €25m sale of the Fota Island Resort — said the buyer had indicated he proposed to invest considerably in the property by adding function/conference and leisure facilities.

Waterford Castle joins other recently sold Irish castle hotels such as Ashford Castle and Adare Manor.

The island, near Ballinakill a few miles downriver from the city centre, includes a Des Smyth-designed golf course.

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