Irish Hotel

[Graemsay]

An Irish hotel that was on the market for €6 million in 2008 has just sold at auction for €650K.

http://www.independent.ie/business/...n-market-for-6m-in-2008-for-650k-3037780.html

The nice thing is that the general manager, who's been leasing the place for the last two years, is the lucky buyer. So he can keep the staff on.

Oh, and it's not a little place either...

 

[cu@thetop]

Property prices double every 7 years. Please cease and desist from posting such articles on this forum or you will be outed as a " D & G"er.

Nice buy. Even I probably could have found the money for that!

 

[wobbycarly]

Bit off topic, but this line tickled me:

Mr Diver plans to market the hotel around the growing popularity of Donegal surfing.

On the one day a year in Ireland where the temperature gets over 25°C, and the sea temperature rises into double figures, people go surfing?!

On this?

 

[willair]

An Irish hotel that was on the market for €6 million in 2008 has just sold at auction for €650K.

http://www.independent.ie/business/...n-market-for-6m-in-2008-for-650k-3037780.html

The nice thing is that the general manager, who's been leasing the place for the last two years, is the lucky buyer. So he can keep the staff on.

Oh, and it's not a little place either...

A lot has to be said about businesses that run 2 set of books,maybe the person in control was working on the simple rule of one for the till,and the next five in his back pocket..

 

[Graemsay]

Cu@thetop, Ireland is XXX rated Bear Porn. The housing market over there is really bad to the point that the reality is far worse than any D&Ger is predicting for Australia.

(16% to 17% falls last year alone, and prices down 55% without the bottom in sight.)

I agree that it's a good buy, and the new owner could do very well out of it in the coming years.

Wobbycarly, there's a traditional litany of jokes based around the Irish being dumb. It's a bit like how the Aussies view the Kiwis, only without the sheep references.

That, or us Europeans are used to the cold. Yes, I've been to Melbourne in the winter, and it's not that bad.

Willair, whatever the story, it's still a deal of a lifetime.

 

[wobbycarly]

Wobbycarly, there's a traditional litany of jokes based around the Irish being dumb. It's a bit like how the Aussies view the Kiwis, only without the sheep references.

Well, with Dad being Irish (flew over here 45 years ago) I think I've heard nearly every Irish joke ever written.

And having visited the country in both Winter and Summer, I could hardly tell the difference in the weather, other than there were more daylight hours in Summer!* It was the reference to surfing that amused me.

*OK, it wasn't quite that bad - they do get a few hot days in the Summer - just using some hyperbole to make a point.

 

[nww]

This was mentioned on ABC tv this morning for the upcoming program 4 corners
which is investigating the Irish housing bust. I think its airing tonight.

 

[willair]

Willair, whatever the story, it's still a deal of a lifetime.

Graemsay,,Yes it is for that price-size-and location,,and it must be very hard times over there,because i have had 2 late night phone calls from Irish Plumbers over the past three months with the Irish Pub in the background that i employed over 15 years ago who went back to take on the Irish Tiger and got bitten like every one else,both are going to work in the New Start up mines in Qld "Irish Luck" they married Australians Ladies and have dual passports..

 

[Graemsay]

House prices fell by nearly 17%, and the economies been bouncing along in (or on the edge of) recession since 2008.

Like I said, Ireland is real Doom and Gloomer fodder.

The UK's better, but I'm thinking about Australia again given the state of things here. So I can understand why Irish with the suitable ticket would think about moving.