Hotel Site: With the fast expanding town of Navan offering considerable potential for a new hotel, there is likely to be strong interest in a site of 8.4 acres with full planning permission for a 103-bedroom hotel and leisure complex on the edge of the town.
Joint agents Lisney and Smith Harrington are seeking over €5.5 million for an elevated site at Kilcarn, off the Dublin Road in Navan, which is to be sold by private treaty.
Navan has two other hotels but, with the population up more than 50 per cent since 1996 and set to grow to 60,000 by 2011, there is undoubted scope for a top end hotel. The leisure centre would be the second privately-owned facility of its kind in the town.
Investors and developers looking at the Navan site will undoubtedly be keen to know whether the Government plans to extend the capital allowances for hotels in next month's budget. The present scheme is due to run out next July.
The site going for sale is well located just off the Dublin road. It backs on to Johnstown where several hundred new homes, as well as a neighbourhood shopping centre, have been developed in recent years.
The vendor, who bought Kilcarn House and lands in recent years, may also consider selling an additional six acres next to the hotel site which is also zoned for development.
