Reports suggest deal has been struck for sale of The Fairways Hotel
It appears a deal has been struck for the Fairways Hotel.
The Dublin Road premises closed its doors at the start of the year on the instructions of its receivers and was subsequently put up for sale by joint selling agents Property Partners Laurence Gunne in Dundalk and Savills in Dublin.
The Fairways Hotel Facebook page today put a sold sign up on its page, suggesting a deal has now been struck.
The hotel, which was being sold on the basis of the overall complex, had a €1.5m asking price but no details have been revealed as yet in relation to the selling price or the buyer.
As well as the hotel and conference, The Fairways occupies a 5.8 hectare (14.5 acre) site with the benefit of full planning permission for a mixed commercial and residential scheme.
There is valid planning in place until January 2018 for 93 residential dwellings comprising 49 townhouses and 44 apartments in four blocks. The breakdown of this residential area would be 14 four bed houses, 17 three bed houses, 18 two bed houses, 35 two bed apartments and 9 one bed apartments.
Planning has also been granted for the development of a supermarket (1,640sqm), two retail/service units (338sqm), a bingo hall (368sqm) and a crèche (206sqm) together with car parking, signage and service areas at the northern end of the complex.
There is also planning in place until October 2016 for the demolition of the original Fairways Hotel complex and for a replacement with a new hotel foyer to service the hotel and conference section of the complex.
The hotel, formerly the Glendevlin, was developed in two phases, firstly in the 1960s and subsequently in 2000.
The original 44 bedroom hotel, function room and nightclub consists of a three storey flat roof structure. Phase two was added 15 years ago and comprises a conference centre with six syndicate rooms, a large reception area and a three storey accommodation block comprising 56 bedrooms. The total footprint of the building extends to approximately 0.7 hectares (1.75 acres).
Around 80 jobs were lost when The Fairways was officially closed on January 5th. Owner Billy Kelly said he was hopeful at the time of coming to a resolution on the hotel’s future as soon as possible, adding that he hoped to honour all bookings, but these talks were unsuccessful.
It now remains to be seen what the next chapter holds for the Dublin Road hotel.