Limerick’s landmark hotel, the Savoy, has been sold for €18.5 million – almost 40 per cent more than the asking price.
The buyers of the 94-bed hotel are Adare-based Kirkland investment, They also acquired the 84 adjoining apartments known as City Central Residences.
It’s understood there were nine bidders for the property including Davy stockbrokers, who were acting on behalf of a client and the Dalata hotel group.
It was jointly sold by BPN Baribas Real Estate and Rooney Auctioneers.
Kirkland was formed a year go and its directors are Rudi Butler and Hugh Sexton. Mr Butler was formerly a director of the Robert Butler group which developed parts of the Shannon Free Zone.
