Innisfree Hotel, High Street, Sligo City, Co. Sligo

On the Instructions of the Receiver Joseph Gannon of Gilroy Gannon Chartered Accountants

The Innisfree Hotel is located in the heart of the charming Sligo Town with frontage onto the high street. There are a range of retailers and office occupiers on this street. Footfall and Traffic flow are high through the town centre. Sligo is a popular tourist destination with a range of amenities ranging from lively nightlife and a vibrant theatre tradition to water sports and mountaineering. Sligo is also frequently visited for its heritage attractions; there are over 5,000 archaeological sites in county Sligo. The Innisfree hotel is a fantastic opportunity to take advantage of the booming visitor levels of Sligo Town and surrounding countryside.

Location:

The subject property is located in the centre of Sligo town on High Street. Sligo enjoys a strategic position between Galway and Derry, benefiting from being located just 140km from both. Ireland West Airport at Knock is located 36 km from Sligo town. The airport provides flights to and from the UK and other European cities, making Sligo easily accessible to international visitors. Sligo town is connected by primary roads to Dublin, Derry, Belfast and Galway, allowing the town to be conveniently accessed by car. There are frequent daily bus services to and from the town and a daily train service from Sligo to Dublin City

DESCRIPTION:

The Innisfree Hotel is a 4 storey property extending to a gross internal area of 2,117.63 sq.m. At Ground Floor level the hotel incorporates the hotel reception area. ‘The Ark Bar’ and a small snug are located to the front of the property and to the rear of the building, a seated restaurant area. The nightclub is located adjacent to The Ark Bar at the rear of the building and is accessed through the bar. The nightclub, which could also serve as a function room features a dance floor, male and female toilets and a cloakroom. Further accommodation on the ground floor consists of a large kitchen with a store room and refrigerated cold room. The upper floors of the property consist of the 30 guest bedrooms, some of which are ensuite and office space. The property is heated by means of OFCH. The floors are porcelain tile and solid timber and the doors and windows are aluminium frame double glazed. The property had a 3 star rating and while it is in need of some refurbishment and modernization, it has the potential to be a very successful hotel or hostel in a fantastic location within Sligo Town centre.The property has been closed for the past 18 months and it will be the responsibility of the buyer to renew all licences.

· Located in the Heart of Sligo Town.
· 3 Star Hotel incorporating bar, restaurant and nightclub as well as 30 guestrooms.
· Extensive Frontage onto Sligo High Street.
· Excellent Investment Opportunity

Gross Internal Floor Area

SQ.M SQ.FT
Ground 884.34 9,518
First 646.30 6,957
Second 105.08 1,131
Second Floor extension 293.07 3,154
Third Floor 55.03 552
Third Floor Extension 113.81 1,440
TOTAL 2,117.63 22,792

Joint Agents: DNG Flanagan Ford Shell House, Wine Street, SligoTel: +353 (0)71 9159222Fax: +353 (0)71 9145134shane@dngflanaganford.iewww.dngflanaganford.ieROONEY Auctioneers & Chartered Surveyors Victoria HouseEyre SquareGalwayTel: +353 (0)91 567391Fax: +353 (0)91 565038www.rooneys.ie

By appointment only with Shane Flanagan 087 246 1062; shane@dngflanaganford.ie