Northern Investor Buys Blarney Golf Resort
Published on Mar 21 2014 4:34 PM in Hotel
Northern Irish businessman Tom O'Gorman, who famously made millions through the sale of oil exploration company Cove energy, has signed contracts to take over the Blarney Golf Resort in Cork.
The hotel had been on sale with an asking price of €2.5 million. The property, which includes a 61-bed four star hotel, leisure centre and a John Daly designed championship golf course, had been on the market for five years and developed for a reported €30 million - €40 million.
Denis O’Donoghue and Tom Barrett, of Savills Hotels & Leisure who handled the sale on behalf of receivers PricewaterhouseCoopers, took 100 inquiries on the sale.
The agents said: “Blarney Golf Resort represents an excellent acquisition and signifies the growing confidence in the golf resort sector.
“The property attracted very strong interest both domestically and internationally with almost 100 inquiries. After five weeks of marketing, Savills and PWC are delighted with the outcome.”
The deal secures 12 jobs at the resort.