Seen nationwide on RTÉ earlier this month when it hosted an episode of Franc’s DIY Brides, the Walter Raleigh Hotel in Youghal is now looking for a new partnership itself.
The historic 41-bed seafront hotel hit the open market this week carrying a €450,000 price tag — about €11,000 per room.
Given the town’s links with Sir Walter Raleigh (who lived here and served as mayor for two years,) and that he brought the first potatoes from Virginia to Ireland in 1585, the €450,000 price could be interpreted as being ‘pretty small potatoes’.
Recently refurbished, the three-star Walter Raleigh Hotel is in receivership via BDO, but is trading well under professional management, and has scope to re-establish itself as a function venue given the dearth of hotels in the hinterland. Its current function room can cater for 350 guests.
Youghal’s population is now nudging 7,000 and it serves a wide catchment in the east Cork and west Waterford area and up the Blackwater valley, and with its long beaches, still gets a seasonal summer swell of visitors and holiday makers.
Joint selling agents for the Walter Raleigh are Downing Commercial in Cork, with CBRE in Dublin, who say it is prominently set on the Cork/approach side of this most historic of tourist towns, with direct/ocean views.
Those views played heavily in the RTE programme, in which the just-wed couple moved across the road to the town’s beachside Greenpark bandstand for their first dance, before returning to the hotel’s marine-themed function room.
Location is 30 miles east of Cork off the N25 Atlantic Corridor Route, with Youghal now bypassed and thus eased of heavy traffic.
The Walter Raleigh Hotel has 41 en suite bedrooms, main hotel bar and restaurant, main 350 seat function room with a second, smaller conference/function room upstairs, re-done lobby and good kitchens.
“It’s an ideal family business opportunity which will appeal to experienced hospitality professionals. With very little similar competition in the general area, the Walter Raleigh Hotel has exciting potential to re-establish itself as the premier hotel in east Cork and to resume its rightful place as the hotel of choice for weddings, functions and as a prime holiday destination in east Cork,” say the agents.
Details: Downing Commercial, 021-4271000; CBRE, 01-6185500
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