Donegal Boardwalk Resort Purchased By Property Group Melcorpo
Donegal Boardwalk Resort has been purchased by property group Melcorpo for a sum in excess of its €3.8 million asking price.
As reported by The Irish Times, the resort, which overlooks Sheephaven Bay in Co. Donegal, was put on the market in June by property development group Bartra, and is comprised of 27 holiday villas, a fully licensed seafront bar, a restaurant and a function room, and includes 45 acres, much of which is still undeveloped.
"An Exceptionally Busy Summer"
Donegal Boardwalk Resort reportedly had "an exceptionally busy summer" with full occupancy in July and August and is reportedly expecting a very strong shoulder season ahead.
The resort's bar, restaurant and function room building is reportedly leased, with bar and eatery trading as "Hooked".
Melcorpo Spokesperson Statement
A Melcorpo spokesperson reportedly said, "We are delighted to be involved with such a great holiday facility in a beautifully stunning part of the country. We are looking forward to working in partnership with the local team leader George Scott and Cormac Walsh of Hooked to develop the resort further to its full potential as a premier holiday destination on the island of Ireland."
Bartra, which reportedly purchased the resort in 2017 when it was guiding €2.6 million, reportedly upgraded all 27 of the resort’s holiday villas, which are reportedly in turn-key condition, fully fitted and presented to a very high standard, with each one reportedly benefitting from a private deck.
Paul Doyle of selling agent Bannon reportedly said that there is "strong interest" in the property, and Niamh Walsh of TDL Horizons, who reportedly advised on the sale, reportedly said, "The level of interest shown from investors and operators gives us great confidence in the tourism sector.
"Following one of the most uncertain 18 months for the tourism sector this successful transaction highlights the level of demand for well located hospitality assets that can easily pivot to the staycation market."
© 2021 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.