SOLD – Parknasilla Resort & Spa – A steal at €10 million.

The Parknasilla Resort Spa in Co Kerry has been taken off the market after an offer was accepted by selling agent Savills.

The property which is being sold on behalf of Bank of Scotland (Ireland) had a guide price of €10 million, it is rumored to have been sold to an overseas buyer who offered in excess of the guide price.

Property developer Bernard McNamara bought The Sneem hotel six years ago by  for almost €40 million. At least €30 million was spent on it’s redevelopment and constructing 62 self-catering lodges and villas in the grounds.

Tom Barrett of Savills said the sale had attracted over 100 inquiries, most of them overseas hotel groups and investors.

Savills is also in the process of selling Cork International Airport Hotel, also owned by McNamara.

It is said that an overseas buyer is prepared to pay over €5 million for the airport which was developed at a cost of around €35 million.