The Park Hotel on the Armagh Road on the outskirts of Dundalk, which opened in 2004 and closed in October 2010, has been sold for E1.2 million.It is believed the sale price was in the region of €1.5m.
The hotel is fully fitted with 80 spacious bedrooms and four suites all with magnificent views of the surrounding countryside and set against the backdrop of the Cooley Mountains.
The ground floor facilities include a bar, restaurant, function room, meeting rooms and conference facilities along with a Leisure Centre with a state of the art gym and a 20m swimming pool, steam room and sauna. A nightclub operated from the premises in its earlier years and the liquor licence remains in place.
The hotel is set on 96 acres of land, 82 acres of which formerly accommodated an 18 hole par 72 golf course.
There is potential to reopen the course, but estate agent Michael Gunne has said that good quality agricultural land in this particular area is in strong demand, with parcels regularly fetching over €10,000 per acre.
In June the hotel hit the headlines as it emerged that a quick thinking farmer had mowed about 84 acres of grass and baled it before making off with the bulk of the harvest.
There had been numerous enquiries for the property from local business people and the property attracted strong interest.