NAMA HAS REACHED an agreement to sell the four-star Moyvalley Hotel and Golf resort in County Kildare to a consortium of Irish and International investors, it is understood.
The price tag for the deal is thought to be around the €5 million mark, which was the amount sought for the development by receiver Padraic Monaghan of KPMG and NAMA.
A source close to the deal estimated that the original developer, Northern Irish businessman Alistair Jackson, could have paid in the region of €60-80 million for the project when it was first built in 2006.
It is thought that up to 50 jobs at the resort will be protected as part of the deal.
The property was sold as a single, one off deal rather than as part of a wider portfolio of loans secured on other properties.
The hotel sits on 460 acres near the M4 motorway, close to Enfield. It comprises of 54 rooms, conference facilities, bar, and a restaurant. It also includes the 19th century Balyna House, which has been split into 47 holiday cottages.
The Darren Clarke-designed golf course, along with the clubhouse, is included.
The property had been up for sale by agent CBRE as four separate lots, although the purchaser is understood to have snapped up the entire development, including around 26 hectares of agricultural land.
CBRE declined to comment on the sale process.
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