Dungannon’s only hotel up for sale at bargain price
DUNGANNON’S only hotel is up for sale at a cut-price £500,000.
The Bankhouse Hotel, a listed building on Irish Street, was renovated and extended from the former Allied Irish Bank building in 2007 at the height of the property boom.
The previous owners of the landmark hotel had worked hard to make the venue a success during their four year tenure
However, at the start of this year, the doors were shut, delivering a body blow not only to the staff who worked there, but to many surrounding traders.
It’s expected that the hotel with its 17 ensuite bedrooms will attract a lot of buyer interest.
Savills, the international estate agents, are handling the sale on the instruction of Brian Murphy & Michael Jennings, joint fixed charge receivers, BDO.
They have described the well-presented premises as an ‘exceptional hotel opportunity’ in a ‘high profile location’.
“Latterly the property was a family owned boutique style hotel with bars and function rooms and bedrooms. Considerable capital expenditure has been lavished on the property to provide an excellent well presented leisure environment”, said the agency.
“The hotel is currently closed, however this was an established hotel providing an opportunity to re-establish the business particularly with the backdrop of such excellent internal finishes and quality accommodation.”
The commercial rates payable on the premises are quoted by Savills at £18,000 per year.
The sale has been launched at an opportune time with the hotel business enjoying a relative boom this year. Room sales in Northern Ireland’s hotels was up 11 percent compared to last year, according to new figures from the Department of Enterprise, Trade and Investment (DETI).
There were 178,000 rooms sold in hotels in the North in June. Overall occupancy levels reached 78% - up from 70% last year.
The figures also show a big increase in business for guest houses and bed and breakfasts.
The number of rooms sold in that sector was up 15% over the year.
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Wednesday 19 June 2013
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