We acted for Palladian Hotels and Resorts, an investment fund based in Guernsey in the Channel Islands, on the purchase of a fivestar luxury hotel in Kenmare, County Kerry. Sheen Falls Lodge is one of Ireland's premier hotels and includes a number of suites and holiday cottages as well as a 66-bedroom hotel.
We investigated title to the property and carried out a due diligence of the business to allow for the transfer of the business and employees of Sheen Falls Estate Limited to Palladian Hotels and Resorts. Advice was also provided on the tax structure of the transaction including advice on value added tax and stamp duty. Palladian acquired the property and other assets of Sheen Falls Estate Limited on their behalf in February 2013.
Palladian Hotels and Resorts is a fund supported by a global group of high net worth individuals which plans to assemble a chain of hotels across Europe over the next 5-7 years.
Since acquisition, the hotel has benefited from a refurbishment which should increase its appeal to tourists who wish to visit the 300 acre estate and take in the sublime scenery in Kenmare. In July 2013, Travel & Leisure Magazine's Top 500 Hotels in the World, ranked Sheen Falls Lodge as the second highest rated hotel in Ireland.
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