Craic On

When the Caiseal Mara first went into administration I called the administrators and they told me that they wanted to keep it open and sell it as a going concern for €1.8m.

Now it has been put up for sale and just look at the price now Caiseal Mara for Sale

80% Off

That’s a massive write-down in price. It’s less than a fifth of what they wanted before for it. David McWilliams predicted that the stock market would fall by 80% in Ireland when no one else did and it fell 79%. He was asked about houses and he said they would fall by 80% too. They have now fallen by 56%.

However, it looks as if commercial buildings have fallen by that magnitude as the Caiseal Mara has fallen by just over 80% in just 2 or 3 years. It’s frightening.

Moville

It could be a bargain for someone. The trouble is that no one has got any money. It would be great of someone did buy it as its closure is severely affecting the Moville festivals. Someone asked me last year why the BeatlesFest and DylanFest were not bigger by now.

I asked “where would people stay?” When I first started there were two hotels and 64 hotel rooms in the town. Now there are none and none.

I wonder if they will even get a sale at that price.

Value for Money

This is what you would get for your €325,000.

48 bedroom hotel
300 seater function room with separate bar
75 cover restaurant
Well appointed lounge
Bar

Surely someone would be tempted at that price. It would be great for the town if they were.