Brehon Capital Buys Killashee House
Brehon Capital Partners and Midwest Holding have acquired Killashee House Hotel in Kildare for €13m.
Under a scheme of arrangement approved in the High Court, the new owners will take over the hotel as a going concern effective from midday on August 21, retaining over 180 staff currently working at the hotel.
Killashee House is a 141-bedroom, four-star hotel and spa set in extensive mature gardens and parkland near Naas.
The acquisition is the fifth recent hotel deal completed by Brehon, a Dublin-based real estate private equity firm. Other purchases since its formation in 2011 included The Marker Hotel and Residences, The Powerscourt Hotel, the Ulysses Portfolio and Mount Juliet.
Commenting on the acquisition, Michael McElligott, director of Brehon Capital Partners says: “We are delighted to be the new owners of this fabulous property and plan to invest in growing a business that is trading very strongly.
“With over 160 weddings hosted at Killashee in 2013, it is a clear destination of choice for couples looking for a special location close to Dublin.”
McElligott adds that Brehon has great confidence in the luxury end of the Irish hotel market, and will continue to seek out investment opportunities across the office, hotel and multi-family segments of the market.
Operations at the Killashee House will be unaffected by the transactions. (August 2014)