Killeavy Castle Estate extends to 150 acres and is picturesquely set at the foot of Slieve Gullion within a mature planted demesne. Having been vacant and derelict for many years, the property has been sympathetically restored and extended to provide a high quality resort which opened for business on 22 April 2019.
There are a number of facets to the estate which include: -
Killeavy Castle is a mid-19th Century two storey (+ basement/ attic) Tudoresque crenelated house with later tower additions to each corner. The castle has been refurbished to accommodate basement level bar and WC facilities together with ground floor reception area and function room. At first floor level the Castle incorporates a high quality 4 bed apartment with feature windows offering panoramic views across the surrounding rural countryside.
Originally a mill and coach house, this building has been transformed and extended to provide a new build 45 bed accommodation block arranged around a central courtyard. Additionally, there are restaurants and function facilities within the hotel block.
The spa includes a treatment and relaxation area together with a water therapy zone with tylarium (sauna/steam bath), hydro and exercise pool, and outdoor hot tub from which there are views of the surrounding farmland.
A 2-storey modern detached gatelodge finished in a locally sourced natural stone with a granite plinth. The gatelodge offers secluded self-catering accommodation for up to 6 guests.
We have considerable experience in valuing country hotels throughout Ireland. Our knowledge and understanding of the complexities of such a specialist market were invaluable in helping us to arrive at our valuation of this unique property.
Set against both the macro and micro market dynamics, we were able to undertake a detailed analysis of the borrower’s business plan and accounts to arrive at a rational and sustainable Fair Maintainable Operating Profit. We then analysed and applied the multiples derived from our extensive knowledge of comparable sales to arrive at our valuation of Killeavy Castle as a fully equipped operational entity having regard to trading potential.
We provided First Trust Bank with a detailed and reasoned valuation which they were able to rely upon for secured lending purposes.
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