THE Donegal Boardwalk Resort of nearly 30 holiday homes has been sold for a sum in excess of its €3.8m guide price.
The multi-million euro resort in Carrigart is made up of 27 villas and a bar/restaurant complex on 45 acres, much of which is still undeveloped.
The new owners are Melcorpo, a Dublin-based development company.
Speaking to the Donegal News last evening, the company said they were delighted to be involved in a ‘beautiful asset’ in a stunning part of the world.
Paul Doyle of Bannon said there was strong interest in the property.
“We were delighted to see the sale concluded. It shows confidence in a good quality tourism product in the county,” he said.
The development and holiday homes, which is adjacent to the one kilometre long boardwalk which links the resort to Tramore beach, was built by T&G Properties after it acquired the site in 2007.
In late 2017, the property was purchased for €3.25 million by Bartra Capital Property.
Earlier this year, the complex was offered to the market by agent Bannon with the tourism expertise of Niamh Walsh from TDL Horizons.
Ms Walsh, who is from Carrigart, said there had been a huge interest in the sale.
“Following on from the pandemic and what has been an uncertain eighteen month, the level of interest shown by investors and operators gives us great confidence in the tourism sector in Donegal. It also shows the demand for high quality facilities like those at the Boardwalk Resort,” she said.
The bar, restaurant and function room building is currently leased. This popular bar and eatery trades as “Hooked” and is a sister operation to the nearby Old Glen Bar and Restaurant.
The sale included a deed of covenant which ensured, among other things, that the project would be open for use and enjoyment by the public at all reasonable times and hours for a period of ten years starting on 29 May, 2015.
The incoming purchaser is required to enter into the same deed of covenant and provide such security as may be required by Fáilte Ireland for the remaining part of the ten year period.
A previous bid by former Ryder Cup captain Paul McGinley to develop a golf resort on the site was refused planning permission.