The four star Carlton Hotel and Spa, just outside the town of Kinsale, Co. Cork, has been offered by receivers for a price of €4.25 million.

The hotel has 70 bedrooms along with 19 holiday homes and made a profit of 500,000 in 2014, according to the Irish Times.

Developed at a cost of €25 million in 2006 by Cork-based consortium Gable Holdings, the hotel ran into trading difficulties and went into receivership in 2012.

However, it established a good recovery over the last two years, mainly due to its popularity as a wedding destination and a resurgence of the economy in tourist towns.