Athlone's Creggan Court On The Market For €1m
Published on Apr 7 2014 10:54 AM in Hotel
CBRE are seeking buyer's for Athlone's Creggan Court Hotel and have set an asking price of just under €1 million.
According to the Irish Independent, the hotel is being put on the market on the instructions of receivers Kieran Wallace and Padraig Monaghan of KPMG.
The property is on the market with an asking price of some €975,000.
The Creggan Court Hotel is said to be a "modern 71 bedroom three star hotel which is trading for approximately 12 years".
John Hughes of CBRE Hotels, who is acting as agent for the sale, said that "this is a popular Midlands hotel which attracts local, tourist, corporate and leisure business. The sale offers an excellent opportunity to acquire a strategically located hotel in the heart of Ireland".
CBRE says the hotel is in a "strategic and easily accessible trading location at the Kilmartin Roundabout adjacent to the M6 Dublin to Galway motorway".
The hotel, which is a short distance from Athlone Institute of Technology, was owned by Frank and Mary Mulcahy's Mulcahy Enterprises, but fell into receivership in August last year.
The Mulcahys also owned Hayes' Hotel in Thurles, which was put up for sale in January of this year, and is attracting numerous parties.