WHITES HOTEL TO BE SOLD AS PART OF A PORTFOLIO OF HOTELS
A Wexford landmark hotel is to be sold as part of a portfolio of hotels whose loans are to be sold by Ulster Bank.
The long established Whites Hotel was redeveloped during the boom and is now to be sold as part of Project Nadal.
Whites Hotel in Wexford town is one of eight hotels earmarked for sale by Ulster Bank.
The hotel which is in receivership underwent major redevelopment work in 2006 and is part of the Wexford town landscape for more than two hundred years.
The redevelopment and enlargement work eight years ago cost 55 million euro and Whites is now expected to sell for between 10 and 12 million euro.
With 157 bedrooms it’s one of the most popular conference venues in the south east.
Ulster Bank has engaged the services of selling agents CBRE and professional services company KPMG to handle the sale.
The portfolio of eight hotels on offer is expected to make in the region of 150 to 200 million euro.