It has been reported that Fermanagh businessman Sean Quinn’s hotel and meetings resort complex, The Belfry, is back on the market, six years after he bought it for £186m.
Bank lender the Bank of Ireland, Barclays and Certus are said to have forced the move to market the 550-acre Warwickshire venue famed for playing host to the prestigious Ryder Cup four times.
There were plans for a £150m development that would have involved building a new five-star property, but debts estimated at £105m now make that unlikely.
A report in the Financial Times said an unnamed Malaysian investor had made an offer of £90m to purchase the complex.
After Quinn’s group was plunged into turmoil earlier this year, The Belfry was left in the hands of Anglo-Irish Bank and US insurance firm Liberty Mutual.
The FT reported the lenders brought in business advisers Ernst and Young to examine potential options for the site, including a debt restructuring and sale.
Commercial property specialists Jones Lang LaSalle have now been appointed to administer the sale.
Although The Belfry has yet to comment officially, a source told reporters: “The Belfry is up for sale. It has been a cash generator for years although it does need a major refurbishment.”
The Belfry Hotel has 324 bedrooms, 22 function rooms, squash and tennis courts,a club and a heated pool.
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