Kilkenny’s Mount Juliet Resort sold for €15 million

Brehon Capital Partners and businessman Emmet O’Neill plan expansion

Kilkenny’s Mount Juliet Resort sold for €15 million

Kilkenny’s Mount Juliet Resort sold for €15 million

Thu, Jun 5, 2014, 15:44

Kilkenny’s Mount Juliet Resort has been sold, with Brehon Capital Partners and businessman Emmet O’Neill taking ownership of the property from Killeen Group Holdings.

It is understood that the 86-bedroom resort, which was sold as a going concern, came with a price tag of around €15 million.

The property includes 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. Killeen Group Holdings will retain ownership of Ballylinch Stud.

There was strong interest in the property, according to Killeen, with both Irish and overseas investors potentially acquiring the property.

There are also plans for major new investment in the coming months that will see between 30 and 40 bedrooms added to the property. It is understood that about €4 million will be spent on the work, which will also see the spa and swimming pool facilities upgraded later this year.

There are currently 143 staff employed at Mount Juliet, and it is understood that no jobs are at risk from the sale, with the prospect of further recruitment once the expansion is complete.

It marks Brehon’s third venture in Irish hotels, following its investment in Dublin’s Marker Hotel and Powerscourt Hotel in Wicklow.

“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,” Damien Gaffney, Director, Brehon Capital Partners said.

UCD graduate Mr O’Neill, who is Denis O’Brien’s nephew, worked with members of the Brehon team on his previous venture, Smiles Dental. The business was sold last month for €36 million.