Mahony family puts Mount Juliet up for sale

The Mahony family is putting high-profile hotel and country club resort Mount Juliet up for sale, following approaches from a number of potential buyers.

Killeen Group, the Mahonys' holding company whose main interest is motor business Toyota Ireland, confirmed yesterday that it had placed the Thomastown, Co Kilkenny, property on the market and has appointed corporate advisers Key Capital, to manage the sale. Industry sources yesterday suggested that the boutique hotel and golf course could fetch about €15 million.

Private homes
There are a number of private homes on the estate, whose owners include telecoms billionaire Denis O'Brien, recently departed Nama executive John Mulcahy and Ken MacDonald of property dealers Hooke & MacDonald.

Killeen said a number of potential buyers had expressed interest in Mount Juliet. It is understood that this triggered the decision to put the property up for sale.

Mount Juliet has been part of Killeen since the group’s founder, Tim Mahony, who established Toyota Ireland, bought the property in 1988 from Victor McCalmont and his family.

The property is set on 600 hectares and is best-known for its golf course, designed by Jack Nicklaus, which has hosted the European Tour's Irish Open and, in both 2002 and 2004, the American Express World Golf Championship.

Hilton managed the 32-bedroom hotel under the Conrad brand for eight years up to 2009, when it and Killeen agreed to terminate its contract, which had been up for renewal the following year.

Fishing rights
Along with the hotel, there are a number of lodges on the grounds that are rented to guests. The resort has salmon and trout fishing rights on the river Nore, and has a number of angling lakes on the estate itself. The nearby Ballylynch Stud, which was part of the property that Mr Mahony acquired in 1988, is not up for sale.

Killeen Group Holdings said it intended to “exit the tourism business in Ireland”.