The 32-bedroom Coast Hotel in the popular resort of Rosslare Strand in Wexford, where property prices have skyrocketed since Covid, has been put on the market at an indicative price of between £3.5m and £4m euros.
The seller is Michael Heffernan, a son of Dunnes Stores boss Margaret Heffernan, who launched the hotel in early 2018, following a major upgrade and refurbishment of what was once the hotel Crosbie Cedar.
He is said to be selling the Rosslare property to pursue other business interests. He is also the owner of the Coast Hotel (formerly Saltees Hotel) in Wexford’s neighboring fishing village of Kilmore Quay, which opened in 2017.
Coast Rosslare will go under the hammer at an online auction at the offices of Keane Auctioneers, Wexford on April 8 at 12.30pm.
“This is a busy hotel with serious potential and will be sold as a working business. It has undergone a fabulous refurbishment. All the kitchens are brand new and there is a lovely new bar and lounge”, said auctioneer John Keane. .
“It has been trading very successfully since it opened. It was doing very well before Covid and more recently since the pandemic it has been extremely busy. It is in the heart of Rosslare opposite a Blue Flag beach.”
The former Crosbie Cedars Hotel had previously been put on the market in August 2015 for £700,000, but recent years have seen renewed interest in Rosslare as a holiday and residential location, with a corresponding rise in prices from real estate.
Last year, the disused Iona Hotel building, owned by a local village family, sold for more than four times its original guide price, reaching 3.36 million euros in a online auction, with 0.3 and 0.6 acre sites offered by the same family, sold for €531,000 and €752,000 respectively by Keane Auctioneers in conjunction with DNG.
“There is great interest in Rosslare Strand at the moment. The area is attracting a lot of attention and properties are fetching very good prices. It is a great location,” said the Wexford auctioneer.
“Generally there has been an increased interest in properties on the south east coast. I have sold a lot of coastal properties. You have people coming from the UK and the US and we have recently had some Buyers from Belgium In Ireland we are seeing a lot of interest from the North Leinster area.
“Rosslare is not just a summer destination, people come to the area summer and winter. There is easy access to the N25 and N/M 11 and there is a train station at Rosslare Strand which goes to Dublin every morning.”
Mr Keane said he expects very strong interest in selling Coast Hotel. “This is an opportunity to acquire a thriving hotel in one of the country’s most sought-after areas, in the heart of a quality seaside location, with ample parking, facing a Blue Flag beach and local amenities attractive. Opportunities like this don’t come up often in the market. »