WITH many of the prestigious country clubs around the country in trouble, the news that Kilkea Castle, above, in Co Kildare has been marked down from €16 million to €6 million will put the frighteners on owners and receivers.

The four-star castle and its 18-hole golf course, not to mention 33 golf lodges near Castledermot, was put on the block last year, by its owner, Dave Conway, a 75-year-old businessman who divides his time between the US, Hong Kong and Ireland.

The 830-year-old castle is in astonishingly good condition for its age, and has been used as a wedding venue in recent years. However, the €16 million price tag was clearly very much on the optimistic side, even though the golf club is popular, at least in summer. Of the 33 three-bedroom lodges in the grounds, several have yet to be completed, which means that Kilkea Castle has its very own ghost estate in its grounds.

The new price might flush out a buyer in the hospitality trade, but with so much uncertainty in the market, who can say that the price won’t slip further. The property is likely to be talked about at the forthcoming Irish Hotels Federation conference in the Slieve Russell from March 6th to 8th. So is the fact that most hotels in the country have had to drop room rates to attract customers.