K Club put on the market with price tag of up to €80m

Michael Smurfit’s five-star golf resort in Co Kildare made €4m loss in 2015

The K Club in Co Kildare is being put on the market. File photograph: Alan Betson/The Irish Times

The K Club in Co Kildare is being put on the market. File photograph: Alan Betson/The Irish Times

 

The five-star K Club golf resort is being placed on the market with an expected price tag of up to €80 million.

The 222-hectare (550 acre) estate is one of the country’s premier golf clubs and hosted the Ryder Club in 2006.

Located in Straffan, Co Kildare, it has 134 hotel rooms, two Arnold Palmer designed courses and two club houses.

Owned by businessman Michael Smurfit, it will officially go on sale from Saturday and is expected to sell for between €70 million and €80 million.

Tom Barrett of Savills, who is understood to be handling the sale, could not be reached for comment.

The K Club’s luxury hotel almost doubled its bedroom stock in 2015 to its current 134 rooms following the addition of an extension.

Accounts last year showed the business made a near €4 million loss before tax in 2015, up from €3.2 million the previous year.

However, its position was expected to have improved significantly since then due to its extended capacity and with a booming tourist market.

For US tourists in particular, the club is popular given its association with the Ryder Cup, a clash between US and European professional golfers that remains one of the biggest events in the sport’s calendar.