Plans are in the pipeline for the development of a €60 million retirement village inside the grounds of the Lyrath Estate Hotel, in Co. Kilkenny.
Lyrath owner Xavier McAuliffe, who, alongside a small group of investors, paid €25 million to buy back the 170-acre estate that he had previously developed into a hotel before it was taken over by receivers in 2012, told the Irish Independent that the plans for the retirement-village development are now in the early stages.
“It’s good to be back. I was on sabbatical for four years,” said McAuliffe, who added that a €5 million refurbishment programme at the hotel is now almost complete.
“The plan would be to develop a village of 150 two- and three-bedroom homes that would sell for about €300,000, to appeal to retired people living in large, empty homes in affluent suburbs of Dublin,” he said.
“The concept works very well in Australia, South Africa and the US. This would be a massive investment for us, but we would plan to do it in stages. We have spoken to the planners, and they cannot see any problem with it,” McAuliffe continued.
The €5 million refurbishment project includes a new bistro, while McAuliffe is also planning a new €2.5 million pavilion that could accommodate weddings and parties of up to 250 people.
