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Lough Erne Resort Close to Sale

Five star location opened in 2007.

Five star location opened in 2007.

The Lough Erne Resort looks likely to be sold within weeks according to reports, with a US businessman alleged to have already agreed a €5m sale price.

The luxury five star Co. Fermanagh hotel made headlines the world over last year when it hosted the G8 summit of world economic leaders.

The resort has been for sale since May 2011 when Bank of Scotland placed the developers, Castle Hume Leisure, into administration, under the guidance of John Hansen and Stuart Irwin of KPMG.  The company is under secured debt of a €33m loan, initially taken out in by Jim Treacy to buildthe resort, which first opened in 2007.

There are conflicting reports as to whether a US-based businessman with Irish connections has purchased the 600 acre property or not.  If the rumours come true, a €5m price tag is less than half the £10m that KPMG has valued the hotel and golf resort at.

An official announcement on the sale is expect to come through in the coming weeks.

Encircle 360 Ltd T/A Food for Thought -, 59 Merrion Square, Dublin 2, Ireland.

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