Lough Erne Resort Still Has An Uncertain Future

As a marketing exercise, it is second to none, and most land and property agents would give their right arm to have the sort of exposure that the Lough Erne Resort has received during the G8 summit.

The 120 bedroom County Fermanagh resort is for sale for around £10m after its previous owners went into administration in 2011, having used an estimated £35m to develop the complex. The resort was only open for four years before closing.

But despite worldwide attention, it appears that there are still no takers, although accountants KPMG say they are "very hopeful that the profile will assist in the sales process".

The Lough Erne Resort in County Fermanagh

The five-star hotel and championship golf course was originally posted on the market in September 2012, but suffered a setback two months later after a fire caused substantial damage to the pool area. This didn’t stop Prime Minister David Cameron from naming it as the venue for this year’s summit, despite the announcement being just a day after the fire.

When market conditions were buoyant, it was valued in the region of £30m. At the time that the owners, Castle Hume Leisure, went into administration, they owed Bank of Scotland Ireland £25m.

The hotel part has 120 rooms and suites. Its facilities include a dedicated conference and banqueting space for 400 people, five food and beverage outlets and a Thai spa.

The complex itself  has two championship golf courses - the Castle Hume and the signature Faldo course - two floodlit driving ranges and boasts the only Nick Faldo Academy in Europe.

http://www.lougherneresort.com/