Oil exploration veteran Tom O'Gorman from Northern Island has purchased the Blarney Golf Resort located in Co Cork, Ireland. The asking price for the property was €2.5 million (£2 million), according to Belfast Telegraph.
The real estate agents said: "Blarney Golf Resort represents an excellent acquisition and signifies the growing confidence in the golf resort sector. The property attracted very strong interest both domestically and internationally with almost 100 inquiries. After five weeks of marketing, Savills and PWC are delighted with the outcome."
According to The Irish Times, O'Gorman confirmed that the golf resort will continue to operate as usual. However, the energy investor has future plans to improve the facilities of the property, the report said.
The Blarney Golf Resort's development cost runs from €30 million to €40 million. It was first put on sale for €12.5 million in February 2009. Later on, the price was cut to just €2.5 million. Savills was the real estate firm that handled the sale of the property, The Irish Times reported.
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