Hilton eyes possible franchise deal as Northern Ireland hotel goes on market for £7m
The Hilton Hotel in Templepatrick is on the market for around £7m, with at least one investor from Northern Ireland considering acquiring the property, the Belfast Telegraph can reveal.
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The hotel, golf and country club is being marketed for sale by agency Christie in London on behalf of Hilton.
A spokeswoman for the hotel yesterday confirmed it was on the market.
It follows the sale of another Templepatrick hotel, the Templeton, to Galgorm Collection.
According to a brochure from Christie, the Templepatrick Hilton is to be converted into the first DoubleTree by Hilton in the province. DoubleTree is one of the more luxurious brands in the Hilton family.
As well as the £7m price tag, the venue is also subject to an annual £200,000 ground rent payable to the ultimate landlord of the hotel, former Ulster Unionist MP Danny Kinahan.
Mr Kinahan is the owner of the Castle Upton Estate on which the hotel was built. Castle Upton, his home on the estate, has been on the market for £1.3m since 2016. Now the hotel on the estate is being sold with a long leasehold interest, expiring in around 170 years.
The 129-bedroom hotel was built in 1997, and has a swimming pool, fitness suite and spa, and an 18-hole golf course.
Mr Kinahan told the Belfast Telegraph he was aware potential buyers were looking at the property.
"I can't stop them selling it, but I have to agree to it, estate-wise, and I can only hold back if there's good reason.
"The ground rent is reviewed every few years. People have said to me, 'don't let anyone tell you it's too expensive'. It's the standard amount for the market."
He added that he would like the hotel to be "in good hands".
According to the brochure, "the hotel is being offered for sale on the basis of a conversion to a DoubleTree by Hilton, subject to completing the property improvement plan, either with the benefit of a management agreement or franchise agreement with Hilton".
The brochure describes the hotel as "a well-established resort hotel, set in a substantial parkland estate".
And it said a repositioning of the hotel into a DoubleTree by Hilton could enhance the success of the business.
The brochure says the hotel had revenue of £6m in 2016.