Hotel, leisure and golf investors have been urged to become a strategic investment partner in the Killeen Castle Resort in County Meath
It’s being described as an exciting opportunity to complete the refurbishment and expansion of the castle on a multi-phased development into a magnificent hotel to complement the existing renowned Jack Nicklaus signature golf course, lodges, residential and extensive additional facilities which will open up both the luxury and U.S. markets. Pricing expectations for the entire estate are in the range €25m-€30m, according to agents CBRE.
Killeen Castle Resort is set on a 226 Ha/ 560-acre estate and features a historic 12th century Norman castle, highly regarded 18-hole signature championship golf course designed by Jack Nicklaus, extensive golf clubhouse spanning some 2,790 sq.m / 30,000 sq. ft with popular food and beverage, wedding and event business.
Situated in a historic woodland parkland setting, this highly desirable estate is located in the “Royal County” on Ireland’s Ancient East Tourist Trail and located only 30 minutes from Dublin International Airport and 45 minutes from Dublin city centre.
The estate has benefitted from significant investment in recent years including high-end luxury residential houses, extensive restoration work to the castle, garden and ground upgrades, six self-catering lodges with 24 bedrooms, golf clubhouse renovations and state of the art driving range.
In 2023, six self-catering lodges were completed which consist of 24 ensuite bedrooms with large reception areas to accommodate wedding, conference and golf groups. There is full planning permission for a further 16 lodges (to provide 64 bedrooms) adjacent to the existing 6 lodges.
In addition to the above there is extensive planning precedent on the estate for various opportunities for future developments to align with the vision of an investor, to include previously granted permissions for a hotel with up to 250 bedrooms and a hotel village comprising 46 lodges immediately adjacent to the hotel.
Existing Facilities:
- Stunning historic castle with hotel planning
- World renowned Jack Nicklaus designed 18-hole championship golf course
- State of the art Golf Clubhouse
- Newly installed driving range
- The Pavillion events venue
- Hunters Yard with six recently developed lodges accommodating 24 bedrooms
- Rose Cottage with 2 guest bedrooms
- 68 residential luxury properties completed and/or under construction
Proposed Facilities:
- Castle to be completed to accommodate 43 bedrooms and suites
- Hunters Yard – completion of a further 16 lodges to provide an additional 64 bedrooms
- 89 residential dwellings located throughout the estate
- The expansive estate boasts numerous locations that have been identified as perfect settings for a diverse range of outdoor pursuits and activities.
The golf course at Killeen Castle is a Jack Nicklaus Signature Golf Course, one of only two in Ireland. Constructed in 2008, the course measures over 7,700 yards from the back tees, making it one of the longest in the country. Killeen has hosted prestigious events such as the Ladies Irish Open 2010-2012 and the 2011 Solheim Cup. It has been voted the Best Parkland Course in the Greater Dublin Area numerous times.
The opportunity comes amid a resurgent hotel investment market, which has largely been driven by stabilising interest rates and resilient trading performance. Ireland’s hotel investment volumes have already surpassed the entire year of 2023, with over €750m in transactions so far this year.
Paul Collins, Executive Director, Head of Hotels Ireland at CBRE, said: “Killeen Castle is an iconic estate and presents an exceptional opportunity to invest in one of the most prestigious luxury resorts in Ireland. Its strategic location close to Dublin, state-of-the-art facilities and championship golf course offer a unique investment with significant growth potential and expansion plans.
Golf is booming and this is best illustrated with the increase in golf participation across Europe since 2020 when numbers grew by over 32% from approximately 10.6 million to 14 million players. The R&A’s 2023 report further estimates that 21.1 million people across Europe are engaged with golf in some form, whether that be playing, watching or supporting the sport. Killeen Castle presents a unique opportunity for an investor to become a strategic partner to one of Ireland’s rare historic castles.”