The K Club on the Market for €80 Million - Construction Network Ireland - Construction Network Ireland

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Published in Commercial Property on 20/07/2018

The K Club on the Market for €80 Million

CNI Editor reports

The K Club has been placed on the market for sale with a guiding price of €80m.

Dr Michael Smurfit, owner of the world-renowned hotel and golf resort, has instructed the Savills Hotels & Leisure division to manage the sale.

The luxury 5-star resort, located in County Kildare, Ireland, sits on a 550-acre estate featuring a 134 bedroom hotel and two 18-hole championship golf courses designed by the late Arnold Palmer, which hosted the 2006 Ryder Cup, 2016 Dubai Duty Free Irish Open and thirteen European Opens.

The K Club is steeped in history. Built in 1832 by the Barton wine family, on the banks of the River Liffey, the original house was modelled on a French Château and still retains many of its original architectural features, artwork and antiques. It opened as a luxury hotel in 1991 and was Ireland’s first AA Five Red Star Property.

The mature estate covers an impressive 550 acres and features a stunning Victorian walled garden and fishing on the River Liffey which runs through the resort. The resident ghillies offer fly fishing on the river and horse riding and clay pigeon shooting are also available along with a range of different country pursuits.

The property is for sale freehold, clear of management agreement and brand.

Tom Barrett, Director, Hotels & Leisure at Savills Ireland said The K Club is one of the leading hotel and golf resorts in the world. “As a freehold property, unencumbered by brand or management agreement, it offers vast potential for the next owner.”

Ireland’s hotel sector continues to perform very well, with regional luxury RevPAR growth of 13% recorded in the first half of 2018. This growth is balanced and broad, with corporate & leisure and domestic & international markets playing their part.

Looking ahead, the latest consensus is for Ireland’s economy to expand by almost 5% in 2018, with expectations of further strong employment growth of 2.4%. Dublin Airport had its busiest month on record in June 2018 and expects passenger numbers to surpass 30 million this year.