Golf Business News – Killeen Castle seeks investment partner for major development projects

The owner of Killeen Castle in County Meath is inviting proposals from experienced hotel, leisure and golf investors to become potential investment partners in the Irish resort to help complete a major renovation and expansion of the castle in a multi-phase development.

Marketing firm CBRE, which is representing Killeen Castle's owner, Castlethorn, to find an investment partner, says the expected value of the site's expansion is in the €25m-€30m range.

Paul Collins, Senior Director, Head of Hotels at CBRE, said: “Killeen Castle is an iconic building and offers a unique opportunity to invest in one of Ireland's most prestigious resorts. Its strategic location close to Dublin, state-of-the-art facilities and championship golf course offer a unique investment with potential for significant growth and expansion plans.

He added: “Golf is booming and this is well illustrated by the increase in golf participation across Europe since 2020 where numbers have grown by over 32% from almost 10.6 million players to 14 million. The R&A's 2023 report also estimates that 21.1 million people across Europe are involved in golf in some way, whether playing, watching or supporting the sport. Killeen Castle offers a unique opportunity for an investor to become a strategic partner in one of Ireland's rare historic castles.”

Killeen Castle Resort is located on 560 acres and includes a historic 12th-century Norman castle, a signature 18-hole championship course designed by Jack Nicklaus, a spacious clubhouse covering approximately 30,000 sq. ft for popular food and beverage, wedding and event business. .

The estate has benefited from significant investment in recent years, including luxury residences, extensive restoration work to the palace, garden and floor renovations, six self-catering lodges with 24 bedrooms, clubhouse renovations and an excellent driving range. There is planning permission for a further 16 lodges (to provide 64 bedrooms) adjacent to these six lodges.

In addition to the above there is extensive estate planning precedent for various future development opportunities to match the investor's vision, including previously granted consents for a 250-bedroom hotel and a nearby 46-bedroom hotel village. the hotel.

New Services Proposed:

• The castle will be finished to accommodate 43 bedrooms and suites
• Hunters Yard – completion of a further 16 bedrooms to provide an additional 64 bedrooms
• 89 accommodations available throughout the area
• The expansive estate has many locations that have been identified as perfect settings for a variety of outdoor activities and activities.

Killeen Castle has a Jack Nicklaus Signature Golf Course, one of only two in Ireland. Built in 2008, this course measures over 7,700 yards from the back tees, making it one of the longest in the country. Killeen has hosted major events such as the Ladies Irish Open 2010-2012 and the 2011 Solheim Cup.

The opportunity comes amid a resurgent hotel investment market, driven largely by stabilizing interest rates and strong trading performance. The amount of hotel investment in Ireland has already exceeded the full year 2023, with more than €750 million so far this year.

For more information, visit www.cbre.ie or call +353 (0)1 618 5500.