Donegal Boardwalk Resort sells for more than €3.8m

A 27-villa holiday resort in Donegal has been sold for in excess of the asking price of €3.8 million.

The Donegal Boardwalk Resort, situated on the Wild Atlantic Way, has been purchased by Melcorpo, a property group.

Overlooking Sheephaven Bay, the resort was brought to the market in June by Bartra, and comprises 27 holiday villas, a fully licensed seafront bar, restaurant and function room. The property includes 45 acres, much of which is still undeveloped.

The resort adjoins the spectacular 1km-long boardwalk which links it to Tramore Beach. The renowned four-star Rosapenna Hotel & Golf Resort is a neighbouring property.

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With so many people holidaying at home in 2021, Donegal Boardwalk had “an exceptionally busy summer” with full occupancy in July and August and is expecting a very strong shoulder season ahead.

The bar, restaurant and function room building is leased. The bar and eatery trades as “Hooked” and is a sister operation to the nearby Old Glen Bar and Restaurant where Ciaran Sweeney, former head chef at Dublin restaurant Forest & Marcy, is now heading up the kitchen.

Interest

A spokesperson from Melcorpo said: “We are delighted to be involved with such a great holiday facility in a beautifully stunning part of the country. We are looking forward to working in partnership with the local team leader George Scott and Cormac Walsh of Hooked to develop the resort further to its full potential as a premier holiday destination on the island of Ireland”.

Donegal Boardwalk is located within a short distance of the popular north Donegal tourist villages of Carrigart and Downings and sits just 30km from Letterkenny.

It is within a three-hour drive from both Dublin Airport and Galway and a two-hour drive from Belfast.

Bartra, who purchased the resort in 2017, when it was guiding €2.6 million, upgraded all 27 holiday villas, which are in turn-key condition, fully fitted and presented to a very high standard. Each villa benefits from a private deck.

Paul Doyle of selling agent Bannon said there was “strong interest” in the property, demonstrating the demand for quality tourist assets in Donegal.

Niamh Walsh of TDL Horizons, who advised on the sale said: “The level of interest shown from investors and operators gives us great confidence in the tourism sector.

Following one of the most uncertain 18 months for the tourism sector this successful transaction highlights the level of demand for well located hospitality assets that can easily pivot to the staycation market”.