Prem Group buys Irish country house hotel

George Sell By George Sell
04 June 2016 | Updated 04 June 2016

Ireland: Dublin-based Prem Group has bought the Cahernane House Hotel, County Kerry, for €3 million.

Ireland: Dublin-based Prem Group has bought the Cahernane House Hotel, County Kerry, for €3 million.

The four-star hotel, which is two kilometres from Killarney, was put on the market by the Browne family through CBRE and Tom Spillane & Co in February.

Cahernane House Hotel is described as an "exceptionally well located hotel in a stunning picturesque setting". It is situated on its own private grounds which extend to 6.5 acres and overlooks Killarney National Park and lakes.

It includes 38 bedrooms located in the original house and a more recent addition linked with glazed double height conservatory.

The hotel features the Herbert Room Restaurant, located in the main house, which caters for 80 people. The drawing room and library reception rooms with feature open fireplaces are situated off reception.

Selling agents John Hughes of CBRE and Tom Spillane said the property "offers an exceptional opportunity to develop a luxurious boutique hotel business in Ireland's premier and world renowned tourist destination".

Prem Group chief executive Jim Murphy said: "The Cahernane is a unique property, full of history and character and is a very welcome addition to our family of hotels. We look forward to working with the staff to enhance the excellent reputation that it already enjoys."

The property is Prem Group's second hotel purchase in a week. Earlier this week it agreed to pay €8 million for the four-star Tulfarris Resort & Golf Club in Co Wicklow,a property it has managed since 2009.

Prem Group owns or manages 43 hotels across Ireland, UK and Europe.

premgroup.com

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