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Carton House on market asking €60 million

Story by John Donohoe

Friday, 14th July, 2017 1:34pm

Carton House on market asking €60 million

Carton House.

Straddling the Meath and Kildare borders outside Maynooth, Carton House Hotel, Spa & Golf Resort, has gone on the international market, asking €60 million.

One of Ireland’s most prestigious sporting resorts, it has been the training grounds for the Irish rugby team in recent years.

Joint selling agents REA Coonan, Savills and CBRE are guiding €60 million for the 668 acre estate, the newly restored 18th-century Palladian mansion, Carton House, a separate five-star hotel and golf and sports facilities that have traded since 2006.

The Mallaghan family and the Carton Development Partnership have confirmed that they had “reached consensual agreement with Nama to put Carton House Resort on the market”.

The Mallaghan family, who have owned the 1,100 acre estate since 1977, set up a separate partnership in 1999 with a group of private investors to embark on the restoration of Carton House and the building of a top-class hotel, a conference and leisure centre, two golf courses and a golf academy.

The development company spent about €90 million on the substantial changes, transforming Carton into one of the most unique resorts in the country.

Conor Mallaghan, a son of the original owner, Lee, said his family was honoured to have had a 40-year association with Carton House. Together with their development partners, they remained extremely proud of the standard of restoration achieved on what was a wonderful heritage property and estate.

Original home of the Dukes of Leinster, Carton is within 30 minutes’ drive of Dublin city centre and Dublin Airport. The hotel has 165 bedrooms, including 18 suites in the original house, all with clear views over mature woodland and the golf courses. A round of golf in the summer months costs about €80.

The food and beverage offering includes the Linden Tree Restaurant, the Kitchen Bar, Lobby Lounge and the Arch BBQ. The resort has an extensive range of meeting rooms, conference and banqueting facilities. It caters for some 70 weddings annually and can accommodate about 350 guests in the main ballroom.

The estate includes two 18-hole golf courses designed by two-time major winner Mark O’Meara and Ryder cup legend Colin Montgomerie. Carton has hosted the Irish Open on three occasions, most recently in 2013.

The sports facilities also includes soccer, GAA and rugby training pitches developed to a high specification and used by such famous clubs as Real Madrid and AC Milan, as well as many UK based teams. Members of the Irish rugby team are also regular visitors, while the British and Irish Lions trained there recently before heading for New Zealand.

The resort is trading strongly with further growth forecast for the coming years. The estate is to be sold free of any management arrangements.

New owners may well decide to apply for the renewal of a planning permission for 12 corporate lodges, which were to have been developed close to the hotel. Before the property crash, some 130 houses were built and sold on the Dunboyne side of the estate.

Willie Coonan of REA Coonan, said: “We are delighted to be engaged in the sale of such a prestigious asset. Locally we have watched Carton House grow into one of Ireland’s premier resorts and become part of the local community’s important recreational facilities.” He also noted that “this opportunity would appeal to leading domestic and international buyers.”

For further information please contact Willie Coonan of REA Coonan on (01) 628 6128 or (086) 256 1874 or williec@coonan.com

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