Killeen Group Holdings has sold Mount Juliet Resort, as a going concern, to a partnership between Brehon Capital Partners and businessman Emmet O’Neill.
The sale follows strong interest in the property from Irish and overseas investors.
The new owners plan to invest in expanding the 86 bedroom resort by adding over 30 new bedrooms and upgrading the spa and swimming pool facilities.
Mount Juliet Resort, set on 500 acres in Thomastown, Co Kilkenny, comprises Mount Juliet House, The Hunters Yard Club House, The Rose Garden Lodges, The Jack Nicklaus designed Golf Course and golfing academy and an Equestrian Centre.
Donal O Callaghan, chief executive, Killeen Group Holdings, says: “We look forward to a bright future for the resort under the leadership of Brehon and Emmet O’Neill and believe their expertise and commitment to further investment in Mount Juliet will ensure its future as a pre-eminent resort for residents, members and visitors alike.
“As a group, amongst our primary considerations were that the distinctive character, ambience and stature of Mount Juliet, as created and developed by the late Dr Tim Mahony and his family, would be maintained by the future owner. We believe Brehon and Emmet’s combined vision will ensure this comes to pass, while working closely with Mount Juliet’s management and staff.”
Damien Gaffney, director, Brehon Capital Partners, says: “We are delighted to be the new owners of the stunning Mount Juliet Resort and look forward to building on the incredible and enduring legacy of the Mahony family, who have created a leisure destination of unparalleled quality. We are committed to growing the resort in line with the Mahony family’s vision and plan to invest in the spa and swimming pool areas later this year and to add over 30 new bedrooms in 2015.
“This is the third hotel investment that Brehon has made, and our successful experience with the Marker Hotel in Dublin and Powerscourt Hotel in Wicklow gives us great confidence in the luxury end of the Irish hotel market. Brehon will continue to be active in the Irish property market and we intend to play a major role as long term investors across the office, hotel and multi-family segments of the market.”
The sale of Mount Juliet Resort does not include Ballylinch Stud which will continue to be owned by Killeen Group Holdings.