for sale by joint agents private exciting hotel...

Exciting Hotel Development Opportunity

Wolfe Tone Street/Barrack Street, Kilkenny.Site 0.27 Ha (0.66 Acres)Adjacent to New IMC Cinema and MacDonagh Junction train station.

Joint Agents

For Sale byPrivateTreaty

Marking for illustrative purposes only.

• Kilkenny City is a very popular tourist destination known for its night life, art galleries, historic buildings, festivals, public gardens and museums. It is one of Ireland’s most visited locations.

• The Kilkenny City and Environs Development Plan 2014-2020 has included a strategic aim to protect and improve recreational, tourism and arts facilities for the benefit of residents and for the promotion of tourism.

• The subject site comprises lands at The Ormonde Centre, John’s Green, Wolfe Tone Street, Kilkenny (Eircode R95 E9PA) and a vacant carpark in front of that property with an entrance off Wolfe Tone Street. The subject site is 0.27 hectares and was previously occupied by The Ormonde Tourist Hostel.

• The site is located on the corner of Wolfe Tone Street and Barrack Street with main accessibility from Wolfe Tone Street. The site fronting onto Wolfe Tone Street is surrounded by existing business and residential buildings.

• The subject site is zoned “General Business” under the Kilkenny City and Environs Development Plan 2014-2020, with a stated objective “to provide for general development”. Land uses listed as being ‘Permitted in Principle’ for this zoning objective include hotels, motels and guest houses.

Surrounded by amenities


This is a significant 0.27 hectares hotel development opportunity in Kilkenny City on part of the well-known former Mart site. IMC Cinema recently opened a new 12 screen cinema on part of the site.

Kilkenny County Council have recently completed the new Central Access Road and Bridge over the River Nore.

The subject site rests on the south side of the new access road. The cinema is on a site of just over four acres and this section, including the subject site, will be focused on more leisure based uses anchored and complimented by the cinema.

Kilkenny has developed as a major tourist destination in recent yearsbut the bedroom stock has remained relatively static over the years. A 2018 report by Failte Ireland identified Kilkenny as lacking adequate hotel stock, where only 41 new rooms were anticipated for the city in 2018. According to AM:PM, the current number of hotel bedrooms within Kilkenny is 1,222.

The site is 200 metres from the new bridge over the River Nore linking to the medieval centre, 300 metres from the train station, 500 metres from Kilkenny Castle, and less than 200 metres from the social hub of John Street. Frontage and road access to the site is excellent.

An outstanding location


The subject site includes a Protected Structure, as recorded by the National Inventory of Architectural Heritage (NIAH Ref: 12000199) and the Kilkenny City Record of Protected Structures (RPS Ref: B112). The Protected Structure is described by the Kilkenny City RPS as ‘John’s Green’, a former hostel (now Youth Hostel) which features a “detached seven-bay three-storey over basement hospital, opened 1767, with three-bay three-storey pedimented breakfront, and single-bay three-storey central return to north-east.”

A proposed hotel development of 108 bedrooms was previously granted by the planning authority (Reference: 02990025/2005).

A Feasibility Study for a 106 bedroom hotel with conference and dining facilities has been prepared by James Mitchell Architects in respect of the site, overseen by Brock McClure Planning Consultants.

An outstanding location

In 2018, Failte Ireland produced an Analysis of Visitor Accommodation in Cork, Galway and Kilkenny and made the following observations and comments:

Kilkenny city is a flagship destination under the “Ireland’s Ancient East” brand. Kilkenny Castle (with 420,000 visitors in 2017) and the Medieval Mile are key attractors for international tourists, while its reputation as a lively compact city makes it very appealing to domestic visitors, particularly at weekends. Overseas tour buses tend to be mainly day-trippers, often out of Dublin, which is partly because of difficulties in getting sufficient accommodation in Kilkenny during peak periods, but partly also because the city is within relatively easy reach of Dublin.

Fáilte Ireland data for visitors and revenue to Co. Kilkenny indicate that the county attracted more than 600,000 visitors in 2017, generating close to €100 million in revenue. Discussions with hoteliers in Kilkenny confirm that occupancy rates in the peak season are very high, and the city has a strong domestic leisure market that raises off season occupancy.

Annual occupancy rates in Kilkenny city centre (around 400 rooms) are typically about 78% based on discussions with local hoteliers. The market mix in Kilkenny is around 70% domestic leisure, with very strong trade on weekends. Around 40% of revenue is obtained

on Friday and Saturday nights, for example. The rest of the market is divided between tourists and the corporate market, with around 10% being organised tours, but the mix will differ across the hotels, with some having a relatively good corporate business.

There are four big corporate employers in the city – Glanbia, VHI, Taxback and State Street – and ongoing plans to develop the old Smithwick’s Brewery site (Abbey Quarter) are targeted to attract more office-based corporate development into the city.

Hotels in Kilkenny account for nearly 1,100 rooms 1,222 (source AM:PM) and 2,600 bedspaces, or 83% of all registered bedspaces in the city. Guesthouses and B&Bs account for another 11% of bedspaces, with the remaining bed stock comprised of small amounts of self-catering, hostel, caravan and camping and Fáilte Ireland “Welcome Standard” approved properties. When looked at by grade, 4-star properties account for 59% of room stock and 57% of bed stock in hotels in Kilkenny (see Table 4.3). About 25% of stock is in 3-star hotels, on the other hand, with 5-star hotels accounting for 13% of room stock and 17% of bed stock. Also, based on the evidence from prior year Fáilte Ireland registrations, less than 20 rooms have been added to Kilkenny’s hotel room stock in the last five years, all through extensions to existing hotels.

Tourism in Kilkenny


Dublin 101 kmCork 119 kmGalway 139 kmLimerick 93 kmWaterford 45 km

source: Michelin Guide Ireland

Dublin

Cork

Waterford

Limerick

Galway

Kilkenny

DISCLAIMER: These particulars are issued by Bagnall Doyle MacMahon and CBRE Ireland on the understanding that any negotiations relating to the property are conducted through them. While every care has been taken in preparing them, CBRE Ireland for themselves and for the vendor/lessor whose agents they are, give notice that:- (i) The particulars are set out as a general outline for guiding potential purchasers/tenants and do not constitute any part of an offer or contract. (ii) Any representation including descriptions, dimensions, references to condition, permissions or licenses for uses or occupation, access and any other details are given in good faith and are believed to be correct, but any intending purchaser or tenant should not rely on them as statements or representations of fact but must satisfy themselves (at their own expense) as to their correctness. (iii) Neither Bagnall Doyle MacMahon or CBRE Ireland, nor any of their employees have any authority to make any or give any representation or warranty in relation to the property.

Bagnall Doyle MacMahon PSRA Licence No 007218. CBRE Ireland PSRA Licence No: 001528. design | conradjones.com

Joint Agents

Declan [email protected]

Conor [email protected]

John [email protected]

On application.

BER exempt.BER

Price

PSRA Licence No: 001528.PSRA Licence No 007218.

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