Kennedy Wilson Gets $25m In Cash Payouts From Irish Joint Ventures

As reported in the Irish Times, US real estate group Kennedy Wilson received cash distributions from its Irish joint ventures of just more than $25 million (€21.6 million) in the first nine months of this year, according to a prospectus filed late last week with the Securities and Exchange Commission.

 

Kennedy Wilson

According to the document, Los Angeles-based Kennedy Wilson received $9.8 million from its Irish operating activities and $15.4 million from investing distributions, which would relate to the sale of commercial property assets.

In terms of its operating assets, some $4.2 million related to its build-to-rent properties, with $5.6 million coming from its commercial activities.

The document also provides some detail on the performance of the Shelbourne Hotel in Dublin, which Kennedy Wilson owns.

The Shelbourne’s revenues declined by 12 per cent in the nine months to the end of September, down from $10.4 million to $9.2 million. The decrease was “primarily due to limited operations of the Shelbourne Hotel” in the nine-month period due to lockdown restrictions, which allowed only essential employees to book rooms at the five-star property.

The hotel’s mortgage debt stood at $83.3 million at the end of September.

The prospectus also shows that Capital Dock, the tallest residential apartment block in Dublin, has an occupancy rate of 66 per cent. Kennedy Wilson developed the 190-unit property and now has a 50 per cent ownership share. The high-end scheme in Dublin’s south docks also has 27,000sq m of commercial space.

Kennedy Wilson had $525 million invested in Ireland at the end of September, including $386.2 million in rented apartments. It has six developments under way here, with an estimated total cost of $548 million.

This includes an office scheme at Hanover Quay, the redevelopment of the former Leisureplex site in Stillorgan, and $300 million on offices and 472 residential units at Coopers Cross in Dublin’s north docklands.

 

Original article by Dave Simpson on hospitalityireland.com

Four Irish Accommodation Venues Hit The Market

Four Irish accommodation venues have hit the market.

Leitrim Quay Holiday Complex

Leitrim Quay Holiday Complex of Leitrim Village, Carrick-on-Shannon, Co. Leitrim, N41 W225, is being sold via Sherry Fitzgerald Farrell for €1.2 million.

The property’s listing on sherryfitz.ie states, “Description

“An exceptional opportunity to acquire an established and highly regarded Holiday Cottage Complex together with Private Marina and fleet of day cruisers.

“Occupying a prime site in the heart of this most popular holiday destination, right in the hub of the Upper Shannon, Leitrim Quay has direct access onto Shannon-Erne Waterway from its own well-appointed marina and is within easy cruising reach of Carrick-on-Shannon, Cootehall, Battlebridge, Drumshanbo & Lough Key.

“Accommodation is provided by 9, three bedroom houses providing spacious accommodation for 6 guests.

“Leitrim Village has a vibrant atmosphere with a great community spirit and is c 7km from Carrick-on-Shannon and Drumshanbo. The area has second to none outdoor and wet weather amenities on its doorstep – kayaking & stand up paddleboarding on canals, rivers & lakes; cycling & hiking on Blueway, Arigna & Curlew Mountains, The Shed Distillery of PJ Rigney, Drumshanbo Acres Lake Amenity & Swimming Pool, Arigna Mining Experience, Lough Key Forest Park and the list goes on.

“* Well maintained Holiday Home & Marina Complex
“* 9 no three bedroom houses in 2 different styles with open fires, electric heating, fully fitted & equipped kitchens, Wi-Fi, TV’s & DVD players & media ports.

“Boat Fleet comprises 9 Day Cruisers (7m/23ft) powered by 25hp diesel inbound engines – each boat has a cuddy cabin and small galley.
“Originally manufactured and supplied by O’Sullivan Marine, these boats are much sought after and were carefully chosen for Shannon-Erne Waterways cruising

“For Appointment to view or further details, contact
“Liam Farrell 087 2727989 or liam@sffarrell.ie

“BER Information

“BER: E1
“BER Number: 114475049
“Energy Performance Indicator: 306.03.”

Heron’s Cove

Heron’s Cove of Rossnowlagh Road, Ballyshannon, Co. Donegal, F94X092, is being sold via Anderson Auctioneers with a guide price of €675,000.

The property’s listing on Anderson.ie states, “ROSSNOWLAGH ROAD,  BALLYSHANNON F94 X092

“‘HERON’S COVE’

“SUPERB GUEST  ACCOMMODATION

“10 EN-SUITE BEDROOMS  WITH 3 B/R PRIVATE ACC.

“ON 1.45 ACRES

“Magnificent property constructed in 2000 and situate adjoining the Ballyshannon / Rossnowlagh Road, 2 miles from Ballyshannon and just  2.5 miles from Rossnowlagh.  Former Restaurant until Owners concentrated on a very successful guest house business.  Potential for further growth on adjoining plot of land included –  ie  glamping etc..

“Large Reception Area,    Dining Room (to seat 74),  Fully equipped Kitchen,  10 No.   Bedrooms (all en-suite)

“Private Accom.– Living Room, Kitchen, 3 No. Bedrooms & Bathroom

“Extending to 572 sq.metres ( 6154 sq.ft.)

“Open Entrance Hall

“Reception Area

“18’7”  x  20’0”

“Chinese slate floor with Reception Desk

“Ladies & Gents Toilets

“Wheelchair Friendly Toilet

“Seating Area

“9’9″  x  20’0”

“Chinese slate floor;  Store Area at rear

“Dining Room

“Sufficient to seat 74 persons

“Lower Level 22’4″  x  16’0″  and  13’7″  x  9’10”

“Upper Level       16’9″  x  22’4”

“Natural stone fireplace with solid fuel stove;

“2 No. patio doors to seating area outside

“Kitchen

“21’3″  x  15’5”

“All stainless steel and fully equipped and fully complies with all regulations;  Tiled floors Walk-in Freezer and Cold Room

“Preparation Area

“4’1″  x  5’11”

“External Store comprising –

“Store – 6’0″ x 16’2″  Bottle Store – 6’6″ x 16’2″  Laundry – 6’6″ x 16’2”

“Staff Toilets & Changing Area

“First Floor

“10 no. Double Bedrooms ( all en-suite)

“Each furnished to a high quality and all have TV’s, phone and Tea making facilities

“2 no. Storage Rooms

“Private Accommodation adjoining –

“Ground Floor

“Living Room

“11’7″  x  15’0” Stone fireplace

“Kitchen

“10’10”  x  12’0″

“Good quality fitted units;

“Built-in oven, hob and extractor fan

“Utility

“First Floor

“Bedroom No. 1

“11’8″  x  13’11”

“Bedroom No. 2

“11’0″  x  11’0”

“Bedroom No. 3

“12’0″  x  7’9”

“Bathroom

“5’5″  x  8’0”

“Bath with shower attached; toilet and washbasin

“The ground floor area of the private accommodation can easily be converted into private bar and seating area.

“Structure

“Walls – Concrete cavity block with external areas fronted by natural stone and fashioned by local craftsmen “Floors – All Concrete Windows – P.V.C. Double Glazed Roof – Slate

“Services

“Sewerage – Puraflow septic system on site

“Water – Mains

“Heating – Oil fired central

“There is a large tarmac car parking area surrounding and there is more than ample room to construct either further bedrooms, function room or private accommodation

“Energy Efficiency

  • “Energy ClassC
  • “Building Energy PerformanceC2.”

 

Mal Dua House

Mal Dua House of Clifden, Co. Galway, H71 ER24, is being sold via Matt O’Sullivan Estate Agent Auctioneer & Valuer for €995,000.

The property’s listing on mattosullivan.com states, “Details

  • “Property ID: MOS-5963
  • “Price: €995,000
  • “Bedrooms: 14
  • “Bathrooms: 11
  • “Property Type: Residential
  • “Property Status: For Sale
  • “C1 BER Number: 101750834  : Energy Output Indicator: 167.4kWh/m2/yr

“Description

“******** FOR SALE OR LEASE ********

“We are excited to bring to the market this prestigious former award-winning guest house. Situated on circa 2.25 acres of mature gardens, this property presents an excellent opportunity for one to acquire an upmarket guest house or boutique hotel right in the heart of Connemara. The area is experiencing huge demand in the holiday sector and this property is well placed to take advantage of this. The location within walking distance of Clifden town is also advantageous.
“The property comprises of two houses, the first being the original four-bedroom residence built in the 80`s and the other a larger newer addition with contains 10 bedrooms, a large apartment (or presidential suite), a state-of-the-art new designer kitchen (surreal kitchens) as well as a well-appointed large dining room, utility /laundry room and games room. All windows and floors in this part of the house are all new.
“There may be huge potential to operate a high-class restaurant here. There is also an impressive light filled entrance lobby / reception area which sets the tone for the rest of the property.

“The original house has a kitchen, utility room, living room, two bathrooms and 4 bedrooms; one of which is en-suite. It would make the ideal home for the new owners/ managers of the establishment. There is an interconnecting door between the two houses but the two houses also have separate access.
“There is ample parking to the front and rear of the property (approx. 60 cars). On the grounds, there are mature trees of varying species, a beautiful river and bridge as well as wonderful outdoor seating/ BBQ areas and patios. There is also a large paddock to the rear of the property and the original house has a separate enclosed and private garden. A new waste treatment plant was also installed in recent years. The house is well set back off the main Galway to Clifden road and is accessed by electric gates which means the site is surprisingly quite and private whilst still being walking distance to Clifden town.

“The new and expanding Greenway in addition to the Wild Atlantic way has been a major draw to what was already a bustling and busy town. We believe that Mal Dua House will be very well received in the hospitality sector.

“The vendor may also consider the option of leasing the property. For more information or to arrange a viewing, please call 095 21066.

“BER: C1 BER Number: 101750834  Energy Output Indicator: 167.4kWh/m2/yr

“ACCOMODATION

“SERVICES

“Waste: Septic Tank
“Water: Mains
“Power: Mains
“Heating: Gas & Oil Fired Central Heating

“DIRECTIONS

“Eir Code: H71 ER24

“On the N59 from Galway to Clifden, Mal Dua House is located on your right-hand side as you approach the town of Clifden.

“These particulars are intended to give a fair description of the property only and are in no way guaranteed, nor do they form part of any contract. They are issued on the express condition that all negotiations are conducted through Matt O’Sullivan Ltd. All properties are offered subject to contract and to being unsold.

“Location

  • “Killymongaun, Clifden, County Galway, H71 ER24, Ireland
  • “Area: Clifden.”

 

The Corner House

The Corner House of Ballinagare, Co. Roscommon, F45D028, is being sold via IAM Sold Property Auctions with a starting price of €160,000.

The property’s listing on iamsold.ie states, “Property Overview

“Gordon Hughes Estate Agents in partnership with IAM Sold Property Auctions

“We are delighted to present this substantial B&B and coffee shop with seating for 27 to the market.

“Located in the picturesque village of Ballinagare the property enjoys a prominent position in the village and is on the N5 which is the main Dublin to Westport Road.

“Suited to anyone looking to start their own business the property is in walk in condition throughout and has 5 ensuite bedrooms overhead along with a kitchenette & laundry room.

“Accommodation includes: Preparation room, Kitchen, 5 bedrooms (5 ensuite), 8 bathrooms, 2 stores, upstairs kitchenette & laundry room.

“Some of the many features include a prominent position on the main street, large coffee shop with ample seating & just an hour & a half drive from Dublin.

“BER D2 / BER No. 80112906

“TO VIEW OR MAKE A BID Please contact Gordon Hughes Estate Agents or IAM Sold, www.iamsold.ie

“Starting Bid and Reserve Price

“*Please note all properties are subject to a starting bids price and an undisclosed reserve. Both the starting bid and reserve price may be subject to change. Terms and conditions apply to the auction, which is powered by IAM Sold Property Auctions.

“Auctioneer’s Comments

“This property is offered for sale by unconditional auction. The successful bidder is required to pay a 10% deposit and contracts are signed immediately on acceptance of a bid. Please note this property is subject to an undisclosed reserve price. Terms and conditions apply to this sale.

“Building Energy Rating (BERs)

“Building Energy Ratings (BERs) give information on how to make your home more energy efficient and reduce your energy costs. All homes bought, sold or rented require an BER. BERs carry ratings that compare the current energy efficiency and estimated costs of energy use with potential figures that your home could achieve. Potential figures are calculated by estimating what the energy efficiency and energy costs could be if energy saving measures were put in place. The rating measures the energy efficiency of your home using a grade from ‘A’ to ‘G’. An ‘A’ rating is the most efficient, while ‘G’ is the least efficient. The average efficiency grade to date is ‘D’. All homes are measured using the same calculations, so you can compare the energy efficiency of different properties.

 

“Disclaimer

“These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements or representation of fact, but must satisfy themselves by inspection, measurement or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property. Properties may be sold via online auction or public auction and bids made prior to public auction may be accepted by the vendors. IAM Sold and our partner auctioneer will share relevant personal information and transactional updates with each other so that we can effectively market and sell properties including the arrangement of viewings and follow up.”

 

 

Original article by Dave Simpson on hospitalityireland.com

Three Restaurants On Island Of Ireland Added To Michelin Guide

Three restaurants on the island of Ireland have been added to the Michelin Guide.

New Approach

The three restaurants in question, which are Dublin’s Mae and Chapter One restaurants and Belfast’s Stock restaurant, have been added to the Michelin Guide as part of a new approach by Michelin to revealing its restaurant recommendations.

Michelin stated on its website, “The Michelin Guide has announced a new approach to revealing its latest restaurant recommendations, by releasing some of its new additions to the Guide ahead of the annual launch event.

“They will be published on a monthly basis, on the last Wednesday of every month – with the first release set for Wednesday 25th August 2021 – and will feature on both the website and the app. Restaurant entries will be highlighted by a ‘New’ symbol, for easy identification, and the restaurants will also be presented in more depth in monthly articles.

“All of the Michelin Guide distinctions for 2022 – Stars, Bib Gourmands and Green Stars – will then be unveiled at an annual launch ceremony as usual. They may even include some of these newly recommended restaurants, so follow the monthly releases closely and watch this space!

“The Michelin Guide Great Britain & Ireland was published in digital format only for the first time in 2021, in order to be more agile in reflecting the ever-evolving restaurant scene.

“Commenting on the live updates, Gwendal Poullennec, International Director of the Michelin Guides, said, ‘By revealing some of the new additions made by our inspectors throughout the year, we further strengthen the ties that bind us to food lovers.

“‘Moreover, in a period that is still very complicated and in which the restaurant industry continues to face unprecedented challenges and uncertainties, we hope that these regular revelations and updates will provide opportunities to highlight the profession, and we invite everyone to discover and support the restaurants around them.'”

 

Mae

Describing Dublin’s Mae restaurant on its website, Michelin stated, “Experienced chef Gráinne O’Keefe’s first solo venture is found in the busy Ballsbridge area of the city above the French Paradox wine shop (and is a collaboration with its owners). It makes sense therefore to go for the well-priced wine pairings to accompany the set price menu.

“Modern, boldly flavoured dishes are produce-led and have an Irish theme: some are homely and comforting, while others are more elaborate and eye-catching. Friendly, efficient service completes the picture.”

 

Chapter One

Michelin’s statement about Dublin’s Chapter One restaurant on its website says, “Having made his name and reputation at The Greenhouse, Finnish-born chef Mickael Viljanen has moved north of the Liffey and now has his name above the door here at Chapter One.

“He’s taken over the kitchen from Ross Lewis – recipient of our Chef Mentor award in 2021 – who remains a partner in the business. The cooking focuses on prime ingredients and uses classic French techniques to create dishes that offer bold and sometimes quite daring flavour combinations. If you want to see it all up close, then book the Chef’s Table in the kitchen.”

 

Stock

Michelin’s description of Belfast’s Stock restaurant on its website states, “Local chef Danny Millar’s latest venture is a spacious, buzzy brasserie which oozes charm and character. It’s set on the first floor of the delightful covered Victorian Market, and tables on the ‘terrace’ overlooking the stalls are a real draw.

“Sourdough pizzas are available at lunch, while the main menu offers carefully cooked classic dishes like traditional Irish crubeens, côte de boeuf with ‘proper’ chips or whole market fish on the bone.”
 

 

Original article by Dave Simpson on hospitalityireland.com

Four Irish Pub Properties Hit The Market

Four Irish pub properties have hit the market.

O’Looney’s

O’Looney’s, John Street, Kilrush, Co. Clare, is being sold via Pat Considine Auctioneers.

The property’s listing on patconsidine.com states, “Description

“OFFERD AT BIDS OVER €125,000.

“This property is ideally located just off The Square in the heart of Kilrush town and within walking distance of the services and amenities of the town.

“Kilrush is a busy trading town and the largest in west Clare, while it offers attractions such as the Marina, the Vandeleur Gardens and Cappa Pier. Kilrush is a heritage town that offers a wide range of services and amenities such as pubs, supermarkets, restaurants, cafés, banks, credit union, church, primary and secondary schools, library, golf club etc.

“O’Looney’s on John Street is a mid-terraced two-story pub that has a small yard and large storage shed to the rear. The property accommodates a bar, lounge, male and female toilets, pool room and coal room while upstairs has the potential to be converted into a three-bed unit kitchen/living room and bathroom. The property has oil fired central heating and there is a solid fuel stove in the bar. The counter top in the bar/lounge in solid mahogany there are stone flags on the floors.

“This property is offered for sale by unconditional auction via www.munsterpropertyauction.ie. The successful buyer is required to pay a 10% contract deposit and is required to immediately sign the sale contracts on acceptance of their bid. The buyer will be granted 28 days from the date of exchange to complete the purchase. Please note this property is subject to an undisclosed reserve price. Terms and conditions apply to the unconditional auction method of sale, which is operated by Pat Considine Auctioneers in partnership with The Munster Property Auction.

“Features

  • “Excellent location and busy pub
  • “Large spacious lounge and pool room
  • “Quiet and cosy bar area
  • “Solid mahogany countertops
  • “Excellent potential to renovate upstairs accommodation
  • “BER D1 723.09 kWh/m2/yr 1.7 No: 800528978

“Accommodation

“Note:
“Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

“Kilrush Neighbourhood Guide

“Explore prices, growth, people and lifestyle in Kilrush.”

Garrafrauns

Garrafrauns former licenced premises of Dunmore, Tuam, Co. Galway, is being sold via O’Donnellan & Joyce Auctioneers Limited with an AMV of €40,000.

The property’s listing on property.odonnjoyce.com states, “Description

“FOR SALE BY LIVE STREAM AUCTION, WEDNESDAY 27TH OCTOBER 2021 AT 2.00PM

“Remote Bidding Only On the Day – You Must Pre-Register On Our Website – With Bidder Security Fee Paid By – SATURDAY 23RD OCTOBER 2021.

“O’Donnellan & Joyce are pleased to bring to the auction market, this substantial detached former licenced premises and residence in the village of Garrafrauns, County Galway.

“Our clients are selling the property within the 5 year time limit to revive the Licence and, it will be a matter for the Purchasers to revive the Licence themselves.

“Garrafrauns is a quiet picturesque village on the road from Dunmore to Ballindine. Nestled in the centre of the village our subject property lies at a crossroad opposite St. Patrick’s Church. The village also consists of a primary school, garage and a multiple-use community centre. Garrafrauns is 4 miles from Dunmore along the R328 road. Neighbouring towns and villages are Cloonfad (5 miles), Irishtown (3 miles), Milltown (5 miles), and Tuam (9 miles). Knock International Airport is just 40 mins drive away and Galway City Centre is 55 minutes.

“SOLICITOR WITH CARRIAGE OF SALE:   Mr. Denis Broderick, FG MacCarthy & Co., Loughrea, Co. Galway 091 841841.

“AUCTION PROCESS
“Please familiarise yourself with the Auction Process prior to bidding: Please note the following: Remote Bidding Only on the Day – You Must Pre-Register on Our Website – With Bidder Security Fee Paid By SATURDAY 23RD OCTOBER 2021. Phone and online bidding service available and you must pre-register to bid remotely- you can register on our website under the auction tab at top of the homepage.

“€5,000 bidder security fee must be authorised in advance by debit card or credit card, in order to bid on the day. If paying by debit card, there must be a daily withdrawal limit of €5,000 allowed on your card. Please check with your bank first!

“If unsuccessful in your bidding, the pre-authorisation of €5,000 is lifted and no money is taken from your card.

“If you are successful, the €5,000 is take off your card and then the full balance of 10% of the purchase price must be paid immediately.

“Register for legals on our website under the auction tab at top of the homepage (please note all legals may not be available for download until closer to the auction date – once you have registered you will receive an alert when they do become available).

“NOTE: These particulars are not to be considered a formal offer. They are for information only and give a general idea of the property. They are not to be taken as forming any part of a resulting contract, nor to be relied upon as statements or representations of fact. Whilst every care is taken in their preparation, neither O’Donnellan & Joyce Auctioneers nor the vendor accept any liability as to their accuracy. Intending purchasers must satisfy themselves by personal inspection or otherwise as to the correctness of these particulars. No person in the employment of O’Donnellan & Joyce Auctioneers has any authority to make or give any representation or warranty whatever in relation to this property.

“Negotiator

“Siobhra Hennessy

“BER Details

“BER No:
“Performance Indicator:”

Minihane’s

Minihane’s of 15 North Street, Skibbereen, Co. Cork, P81 XW28, is being sold via Charles McCarthy Estate Agents Auctioneers and Valuers for €240,000.

The property’s listing on charlesmccarthy.com states, “Description

“Well established licensed premises with residential accommodation overhead measuring c. 1,800 sq.ft. in an excellent trading location with tremendous development potential.

“In a central location with extensive street frontage and a separate vehicular entrance. The property comprises of a lounge/bar and toilets on the ground floor and living accommodation on the first floor. While the property is in need of renovation and repair throughout, the property has a wonderful charm.

“There is a spacious yard to the rear of the property with separate access which has the potential to be developed.

“Skibbereen is located along the N71 route and is a thriving market & tourist town that services a large hinterland including the Islands of Cape Clear and Sherkin and the popular holiday villages at Baltimore, Ballydehob, Union Hall, Castletownshend and Glandore.

“Services:
“Mains water & sewerage

“Title:
“Freehold

“BER Details:
“BER:
“BER No:
“EPI: kWh/m2/yr

“Price Guide:
“Offers in excess of €240,000.”

O’Grady’s

The former O’Grady’s licenced premises of Tubber, Co. Clare, is being sold via O’Donnellan & Joyce Auctioneers Limited with an AMV of €60,000.

The property’s listing on property.odonnjoyce.com states, “Description

“FOR SALE BY LIVE STREAM AUCTION, WEDNESDAY 27TH OCTOBER 2021 AT 12.00PM

“Remote Bidding Only On the Day – You Must Pre-Register On Our Website – With Bidder Security Fee Paid By – Saturday 23rd OCTOBER 2021.

“The property is comprised of a 7 day licensed premises formerly known as O’Grady’s Pub, with overhead accommodation which is situated on the edge of Tubber, Co. Clare. By way of clarification, we would advise you
that the Licence for this property has been recovered and accordingly, our clients are selling this property with the Licence attached to same.

“Located approximately 0.5 miles from Tubber Village and approximately 6 miles from Gort and is on the border between Co. Galway and Co. Clare. The surrounding area is rural in character.

“Substantial expenditure would be required to bring the property up to a modern acceptable standard.

“SOLICITOR WITH CARRIAGE OF SALE: Mr. Denis Broderick, FG MacCarthy & Co., Loughrea, Co. Galway 091 841841.

“AUCTION PROCESS
“Please familiarise yourself with the Auction Process prior to bidding: Please note the following: Remote Bidding Only on the Day – You Must Pre-Register on Our Website – With Bidder Security Fee Paid By SATURDAY 23RD OCTOBER 2021. Phone and online bidding service available and you must pre-register to bid remotely- you can register on our website under the auction tab at top of the homepage.

“€5,000 bidder security fee must be authorised in advance by debit card or credit card, in order to bid on the day. If paying by debit card, there must be a daily withdrawal limit of €5,000 allowed on your card. Please check with your bank first!

“If unsuccessful in your bidding, the pre-authorisation of €5,000 is lifted and no money is taken from your card.

“If you are successful, the €5,000 is take off your card and then the full balance of 10% of the purchase price must be paid immediately.

“Register for legals on our website under the auction tab at top of the homepage (please note all legals may not be available for download until closer to the auction date – once you have registered you will receive an alert when they do become available).

“NOTE: These particulars are not to be considered a formal offer. They are for information only and give a general idea of the property. They are not to be taken as forming any part of a resulting contract, nor to be relied upon as statements or representations of fact. Whilst every care is taken in their preparation, neither O’Donnellan & Joyce Auctioneers nor the vendor accept any liability as to their accuracy. Intending purchasers must satisfy themselves by personal inspection or otherwise as to the correctness of these particulars. No person in the employment of O’Donnellan & Joyce Auctioneers has any authority to make or give any representation or warranty whatever in relation to this property.

“Features

“• Protected structure as per Clare County Development Plan 2017 – 2023 – Vol 4.

“Accommodation

“Lounge Bar 5.0m x 3.6m. with fireplace.

“Bar 5.0m x 5.0m.

“Lounge Bar 3.5m x 12.8m.

“Kitchen/Breakfast room 5.0m x 4.0m.

“Keg Storeroom 2.7m x 5.9m.

“Ladies & Gents Toilets

“First Floor

“Bedroom 1 5.0m x 4.0m.

“Bedroom 2 3.6m x 3.1m.

“Bedroom 3 3.5m x 3.6m.

“Bedroom 4 2.2m x 2.5m.

“Bedroom 5 2.6m x 1.2m.

“Bedroom 6 3.8m x 2.8m.

“Bedroom 7 2.0m x 2.9m.

“Bedroom 8 3.0m x 3.9m.

“Bathroom 2.5m x 1.9m. with bath, wc and whb.

“Toilet 2.5m x 0.787m.

“Negotiator

“Siobhra Hennessy

“BER Details

“BER No:
“Performance Indicator:”
 

 

Original article by Dave Simpson on hospitalityireland.com

Potential Hotel Site In Dublin Hits The Market

A potential hotel site on Molyneux Lane in Dublin 8 has hit the market via commercial real estate services firm Cushman & Wakefield for €15 million.

Property Details

The property’s listing on property.cushmanwakefield.ie states, “For Sale
“Hotel Development Opportunity, Molyneux Yard, The Liberties, Dublin 8
“Approximately (0.12 ha) 0.29 acre

“Exciting Development Opportunity

“Property Highlights:
• “Positioned in bustling Dublin 8 – within close proximity to Temple Bar, St James Gate and St Stephen’s Green
• “Brownfield site extending 0.12ha (0.29 acre)
• “Full planning permission for 244 bedroom hotel
• “Potential for additional 21 bedrooms subject to An Bord Pleanala approval
• “Accommodation extending 7,969 sq m
• “www.molyneuxyard.ie.”

Additional Information

The listing adds, “Proposal
“- The property is being offered for sale with a guide price of €15,000,000. Final bids are due no later than 12:00 noon local time on Wednesday, 03 November 2021.”

Cushman & Wakefield Divisional Director Statement

As reported by The Irish Times, Cushman & Wakefield divisional director Isobel Horan said that the aim of Molyneux Yard is to attract international hospitality operators, “further unlocking the appeal of the area”, and, “This will add to the excellent regeneration work which has been carried out over the last number of years.”

 

 

Original article by Dave Simpson on hospitalityireland.com

GM Of Co. Laois Hotel Ballyfin Demense Says Owners Remain Committed To Venue Following Death Of Businessman Who Spearheaded Its Refurbishment

The general manager of Co. Laois country house hotel Ballyfin Demesne, Peter White, has said that the property’s owners remain committed to the venue following the death of the American businessman who spearheaded its refurbishment, Fred Krehbiel.

As reported by The Business Post, Krehbiel, whose wife, Kay, comes from Co. Kerry, passed away in June at the age of 80.

White reportedly said, “Fred’s passing was a big shock, but the family, and in particular his sons, Jay and Liam, are very committed to Ballyfin.

“They are already talking about five-year plans for its development.”

 

Overseas Market Vs. Domestic Market

Before the COVID-19 pandemic, 70% of Ballyfin’s visitors reportedly came from overseas and 30% reportedly came from Ireland, but White reportedly said that 90% of the venue’s customers now come from the domestic market due to the pandemic.

White reportedly said, “There was a lot of pent-up demand from our existing Irish clients, but we also saw a really big uptick in demand from people in their forties and fifties who hadn’t been here before.

“That has been wonderful for me, because having come from abroad, it has given me a great opportunity to get to know Irish people and the Irish market.”

 

Autumn, Winter And 2022

White reportedly said that October looks set to be Ballyfin’s busiest month in 2021, and, “We have been very pleasantly surprised by the level of demand for autumn and winter. Traditionally, Ballyfin would have closed for all of January and half of February, but next year we will only close for ten days in January. It will be a great start to 2022 for us.”

 

Staff Count

The estate, which opened as a hotel in 2011 following a multimillion euro refurbishment, reportedly employs 70 people.
 

Original article by Dave Simpson on hospitalityireland.com

Key European Hotel Markets Show Improved Profitability But Remain Below Pre-Pandemic Levels

Europe’s key hotel markets are showing improved profitability but remain below pre-COVID-19 pandemic levels, according to hotel industry market data firm STR.

A statement published STR’s website said, “The hotel industries in Amsterdam, Berlin, London, Moscow, and Paris each reported improved profitability, but all remained well below pre-pandemic levels, according to STR’s August 2021 monthly P&L data release.”

 

Positive Growth
The statement added, “Building on its launch in the U.S., STR now features monthly P&L data reporting in Europe, the Middle East, Asia Pacific, and the Americas (excluding U.S.).

“Using U.S. dollar constant currency, August was the first month of the pandemic-era in which all five of these key European markets posted positive levels of gross operating profit per available room (GOPPAR).

“Moscow, which had reached as high as 98% of its comparable 2019 level back in May, led the major European markets with GOPPAR of US$44.87 (78% of 2019 comparable).

“Berlin, which had been at -12% of its 2019 GOPPAR in July, returned to a positive level of US$12.60 in August.

“London showed slow and steady improvement over the summer months but remained at just 23% of 2019 GOPPAR in August at US$27.78.”
 

 

Original article by Conor Farrelly on hospitalityireland.com

The Gold Medal Awards are now open for entries.

Now in their 32nd Year , the awards are recognised as the leading independent awards programme for the Irish hospitality industry.

Judged by industry experts, the Gold Medal Awards pay recognition to hotels, restaurants, guest houses, spa and leisure facilities, event caterers, healthcare caterers, and site caterers, as well as the individuals and teams that achieve the highest standards of product and service in the industry.

All entries are site visited by the esteemed judging panel.

 

 

Click Here For More Details

New Eatery And Spa Open At Co. Galway’s Glenlo Abbey Hotel & Estate

A new casual dining eatery called Palmers Bar & Kitchen has opened at Co. Galway’s Glenlo Abbey Hotel & Estate as well as a new boutique spa called Glo Spa & Wellness, representing an investment of nearly €2 million.

Details

Palmers Bar & Kitchen is a contemporary bar and restaurant named after the Palmers, who bought Glenlo Abbey in 1897.

Glo Spa & Wellness is comprised of four contemporary treatment rooms, including a couple’s room, and a relaxation suite with a tranquillity terrace for guests.

Refurbishments Over The Past Two Years

Over the past two years, Glenlo has completed a number of building projects and renovations including a new bedroom wing, upgrades to existing bedrooms, and a refurbishment of guest lounges including The Tapestry, The French Room, and The Abbey.

The Abbey, which was built in the 1790s as a private church but was never completed at that time or officially consecrated, has been fully refurbished with its original stone cut walls, vaulted ceilings and stained-glass windows remaining, and its interior being refreshed.

The property’s grounds have also had some work completed including the addition of new gardens.

Hotel General Manager Statement

The hotel’s general manager, Rónán O’Halloran, stated, “It was great to employ over 150 local trade professionals here over the past two years. It feels incredible to reopen after such challenging times, with amazing new additions and services to showcase.  Glenlo Abbey is constantly striving to enhance guest experience and the recent refurbishment process has given us the ability to truly offer a warm, personable and luxurious experience, which will compete with the very best of luxury hotels throughout the country.”

Continuous Investment Programme

Glenlo owners John and Marie Lally have introduced a continuous investment programme that includes yearly enhancements and developments, and worked closely with interior architects Millimetre Design on the property’s refurbishments over the past two years.

Small Luxury Hotels Of The World Portfolio

Additionally, Glenlo Abbey Hotel & Estate has also just joined the Small Luxury Hotels of the World portfolio, which is a collection of over 520 of the independently spirited hotels.

 

 

Original article by Dave Simpson on hospitalityireland.com

Easing Of Travel Restrictions In ROI Slows Flood Of Staycationers To NI But ROI Visitors Continue To Boost NI Hotel Business

The easing of COVID-19 pandemic-related travel restrictions in the Republic of Ireland has slowed a flood of staycationers from the Republic to Northern Ireland, however, Northern Irish hoteliers have said that visitors from the Republic are continuing to boost hotel business in the region.

“Some Fall-Off” But Market Remains Buoyant

As reported by The Irish Times, Northern Irish Hotels Federation (NIHF) chief executive Janice Gault noted that there has been “some fall-off” in visitors from the Republic since the Republic eased travel restrictions on July 19, but reportedly added that that the Republic market remains buoyant, with people seeing it as a destination to compete with the likes of Galway and Cork.

The Irish Times quotes Gault as saying, “In many ways the pandemic has repositioned cities like Belfast and Derry with people keen to visit somewhere new with limited options in the short term.”

Gault reportedly also said that hotels in Northern Ireland sold 75.3% of their rooms in July, with Belfast’s occupancy being 73.8%, and, “The hope is that summer southern visitors who have enjoyed their experience will act as advocates and that we can continue to grow this market.”

Republic Visitors Help To Fuel Business At Belfast’s Fitzwilliam Hotel

Belfast’s Fitzwilliam Hotel reportedly said that large numbers of visitors from the Republic have helped to keep the venue fully booked since it reopened in May, and visitors from the Republic to the hotel have more than trebled since the start of the pandemic and now account for 55% of its guests, ahead of local guests and guests from Britain.

Fitzwilliam Hotel general manager Cian Landers reportedly said that there is still huge potential to grow business from the Republic following a steady rise in visitors in recent years.

Landers reportedly noted that guests from Republic are now the hotel’s biggest market, and reportedly added, “Pre-COVID that would have been totally reversed with Republic of Ireland visitor numbers languishing behind Britain, the United States and Northern Ireland.”

Expecting To Stay Fully-Booked Through September

The hotel, which is a sister property to Dublin’s Fitzwilliam Hotel, is reportedly expecting to stay fully booked through September.

 

 

Original article by Dave Simpson on hospitalityireland.com

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