Dublin,
01
February
2016
|
13:10
Europe/Dublin

Renowned Cashel Palace Hotel Adjacent to Famous Rock of Cashel Sold

Dublin January 2016 – CBRE Hotels and PJ Broderick Auctioneers are pleased to confirm the successful sale of Cashel Palace Hotel, Cashel, Co. Tipperary. The hotel was offered for sale with a guide price in excess of €2.25m and sold on behalf of Patrick and Susan Murphy.

The elegant and architecturally rich hotel occupies a unique trading location at the foot of one of Ireland’s most popular tourist attractions – The Rock of Cashel – which attracts over 270,000 visitors annually. The Cashel Palace and the Rock are integrally linked as the land which surrounds the Rock are hotel lands. The Rock can be accessed via a private path through the gardens of the hotel.

The distinctive red brick Queen Anne style building dates back to 1730 was originally built for the archbishop of Cashel, Theophilus Bolton by architect Sir Edward Lovett Pearse, who also designed the Irish Parliament, now the Bank of Ireland in College Green, Dublin. The property opened as a luxury hotel in 1962 by Lord Brocket who at the time also owned Carton House, Co. Kildare.

Cashel Palace Hotel is synonymous with Co. Tipperary and its renowned bloodstock industry. The hotel occupies an excellent location with access from the Main Street of this prosperous easily accessible town between Cork city and Dublin city. The hotel is also easily accessible from international airports at Dublin, Cork and Shannon and Ferryport at Rosslare.

The hotel has attracted many distinguished guests over the years such as Jacqueline Kennedy, Ronald Reagan, Richard Burton and Elizabeth Taylor, Diana Spencer, Prince Joachim of Denmark and many other famous guests form around the world. Other previous owners of this boutique property include former racehorse trainer Vincent O’Brien and US Secretary of the Treasury Nicholas F. Brady.

Cashel Palace Hotel, which ceased trading last year, includes a substantial sympathetically developed three storey over lower ground level together with a two storey annex building, Gate Lodge and Old Schoolhouse. The hotel occupies a site area of approximately 25 acres (10 hectares) which include lawned gardens extending to the boundary of the world famous Rock of Cashel.The property would also be suitable for conversion to a magnificent private residence.

The four star hotel accommodation includes 19 guest bedrooms and 2 self-contained suites. Each individual bedroom has its own unique character with many of the rooms offering picturesque views of the Rock of Cashel. The hotel has a feature and inviting entrance hall with original wood paneling, two Corinthian columns and magnificent staircase. The hotel also includes Bishops Buttery Restaurant and Guinness Bar named after Richard Guinness who grew the hop plants in the gardens of Cashel Palace later to be used in the first production of Guinness Stout at St James’ Gate, Dublin.

Meetings and private dining can be facilitated for groups of up to 100 people in The Palace Suite, The Vincent O’Brien Room, The Mulberry Room or The Long Room.

John Hughes, Director, CBRE Hotels
The sale of Cashel Palace Hotel offers an exceptional opportunity to acquire a magnificent and historic property with the ability to re-establish a luxurious boutique hotel business.
John Hughes, Director, CBRE Hotels

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 165 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, business rates and compulsory purchase, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.