Ireland's Limerick Strand Hotel purchased for nearly $25M

Irish-American businessman John Malone has agreed terms to buy the Limerick Strand Hotel in Limerick, Ireland, for close to $25 million.

Malone, who controls cable supplier UPC through his conglomerate Liberty Global, already bought a number of hotels in Ireland over the past three years.

These include the Westin Hotel in Dublin for $75.2 million, the Trinity City Hotel in Dublin for $37.6 mllion and Humewood Castle for $10 million.

The four-star Limerick Strand Hotel was developed at a cost of $50 million in 2007. It was built on the site of the former Jurys Hotel and is part of a wider project by developer John Lally through his company Lalco.

CBRE's Dermot Curtin and Savills' Tom Barrett acted as agents for the property, which was put on the market with a guide of $21 million in September.

The hotel has 184 rooms, several bars and restaurants, conference and banqueting facilities and a leisure club with close to 900 members.