Co. Meath's Knightsbrook Resort Sold For €19.5m
The Knightsbrook hotel and golf course in Trim, Co. Meath, has been sold to a group of private Irish investors for €19.5 million, a figure that's €1.5 million above the price posted by Cushman & Wakefield when the venue hit the market in April of this year.
The Irish Times reports that State assets agency Nama will benefit from the sale due to its taking over a loan that was secured on the property and business, and originally owed to AIB. Knightsbrook accounts indicate that repayment of the debt had been discussed with Nama in recent years, as well as showing that while the resort was profitable in 2015, its assets still ended up falling €1 million short of its liabilities.
The four-star Knightsbrook resort, which opened for business in 2006, includes 131 bedrooms and a golf course designed by Christy O'Connor, Jnr. The resort is part of the Cusack Hotel Group, which also owns Trim's Castle Arch Hotel and the Ardboyne and Newgrange hotels in Navan.