Malone Buys O'Reilly's Castlemartin For €28 million
Published on Dec 22 2014 9:04 AM in Hotel
Media kingpin John Malone has followed up paying €20 million for the Limerick Strand Hotel last month by forking out €28 million on the former estate of businessman Tony O'Reilly.
John Malone, the owner of UPC Ireland's parent company Liberty Global and largest landowner in the US, has agreed terms to buy the Castlemartin estate in Co Kildare, according to reports.
Alongside the Limerick Strand Hotel, Malone already owns three hotels in Dublin - the Hilton Hotel, Trinity City Hotel and the Westin Hotel - as well as Humewood Castle estate in Wicklow.
The Irish Independent reports that while the deal has yet to formally close, terms are understood to have been agreed and contracts have been arranged, although the actual payment has yet to be made.
It adds that the €28 million being touted would be one of the most expensive in the history of the state, and Malone has spent upwards of €150 million on Irish property over the past two years.