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Moville hotel fetches 175,000 15.10.13

A 48-bed Inishowen hotel has sold today for just 175,000.
The Caiseal Mara Hotel in Moville is understood to have been sold at its reserve price following an auction by Allsops in Dublin.
 
Caiseal Mara Hotel, Moville.
Inishowen News understands that the property, located at Foyle Street, was initially withdrawn after bids did not meet the reserve but was subsequently sold for the asking price. The premises comprises 48 bedrooms, reception, lounge area, two function rooms - the Lough Foyle Suite and Carrowmena Suite - Kinnego Restaurant and Quay Bar as well as a catering kitchen and customer toilets. The hotel has an eight-person elevator. It has not yet been divulged who the new owners are but locals are hoping that the once-popular venue will be renovated to become a jewel in the crown of the picturesque seaside town. The town has been without a hotel since the closure of the Foyle Hotel and the Caiseal Mara in recent years.
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