The well known Heritage Golf Resort in the Co Laois village of Killanard is to be offered for sale at a knockdown price of over €2 million after running into serious financial difficulties. The 225-acre facility had been valued at over €20 million during the property boom.
Joint agents Colliers International and Hume Auctioneers will be handling the sale for McStay Luby who were appointed receivers by the former IBRC. The adjoining five-star Heritage Hotel, due to be sold separately by receivers KPMG, had also been valued at more than €20 million.
The Heritage was developed and promoted as one the premier golf resorts in the country. The 18-hole golf course opened in 2004 and is the only one in Ireland to have been designed by the international golfing legend Seve Ballesteros with the help of course designer Jeff Howes. The highly ambitious plan for the resort was devised by businessman Tom Keane who spent a fortune on an elaborate range of facilities alongside the 18-hole golf course which meanders around five lakes and a stream.
Facilities
No expense was spared on building an over-the-top clubhouse which has a floor area of 3,344sq m (36,000sq ft) on three levels to cater not only for the members but also in the hope of attracting corporate business. To make life easier for wealthy clients, a five-star, 85-bedroom hotel complete with spa was developed next to the village centre.
The clubhouse itself features a handsome reception hall at ground floor level with a sweeping staircase, dining areas, separate bars for members and visitors and lifts to all floors. There is a full commercial kitchen to service two dining rooms which adjoin a spike bar, pro shop and changing rooms.
At first floor level there is the Seve Suite, an open-plan area with yet another bar, diningroom, kitchen and conferencing facilities for 150 guests.
A year after the opening of the golf resort, a separate Thatch bar and bistro were also added next to the village to cater for up to 120 guests.
Back on the golf course there is also a purpose-built indoor golf academy extending to 300sq m (3,230sq ft) and a separate indoor bowling green (2,043sq m/22,000sq ft) which could double as a public venue for product launches. And for anyone wanting to keep fit, there is a purpose-built , floodlit walking and exercise track around the entire golf course.
Whoever buys the golf resort – the selling agents are expecting overseas as well as Irish interest in the well maintained venue – will also have an option to buy five two-bedroom apartments over the spa, each of them with balconies overlooking the golf course. The apartments are currently used as overflow accommodation by the hotel, which continues to trade.
Marcus Magnier of Colliers International said that even though the resort had been in receivership for the past three years, it had been exceptionally well maintained and was in peak condition.
