Waterford Castle Liquidation

GUEVARA50

Deise Vu wrote: »

I have heard several figures bandied about and it is safe to say €200k is only a fraction of most of them. There are something like 7 employees required as it has to be available for 24/7. I don't know what qualifications, if any, are required as the ferry is on chains but it must be better than minimum wage.

Add in licencing, maintenance, diesel, insurance and capital costs and the figure goes through the roof. Certainly not feasible for, say, a management company for the house owners to run (if they were sold individually). The Island was closed for four days earlier this year for the ferry annual maintenance alone. I arrived one Friday morning this year to see traffic backed up the slipway just as a marine engineer, who must have been on speed dial, arrived. Just picture what he charges for that service.

I was advised about 2 years ago it costs 280k to run that ferry per annum.

A fixed bridge was tried for in the initial planing process discussions when they went in for the houses and the Hotel enlargement but planners refused it along with local boat clubs, plus a construction cost of €3,5 million minimum and still would have maintenance and fixed costs per annum. ( still that would have been only a 10% net cost of the house sales overall so well worth it as it would have allowed them to sell privately)

Who was the idiot that thought a fire certificate would not be needed on those houses on an island before they thought to build them. What bank in the country would loan a mortgage with no Fire cert??? a 30 Million Euro mistake !

Elliotlumb

Hi all. I have just found and joined this site. I am slightly worried to say the least as I have my wedding booked for a full weekend at the castle next May. I took a call from the wedding planner on Saturday to assure me my deposit ( of several thousand pounds) is safe. Me and my fiancé have spent the best part of 2 years trying to find the perfect venue, we exhausted everything England had to offer and started to look in Ireland. Waterford castle was recommended to us and we fell in love with it. It would be a great shame not only for us but for the many other people who must be in the same position as us. We booked the entire castle and 10 lodges for 2 nights and if we can't have the ceremony there I will be mortified.

Having read the posts on here, I agree that it will have to be sold as one lot, and as we all know in the current climate finding a creditable buyer will be very difficult

GUEVARA50

Elliotlumb wrote: »

Hi all. I have just found and joined this site. I am slightly worried to say the least as I have my wedding booked for a full weekend at the castle next May. I took a call from the wedding planner on Saturday to assure me my deposit ( of several thousand pounds) is safe. Me and my fiancé have spent the best part of 2 years trying to find the perfect venue, we exhausted everything England had to offer and started to look in Ireland. Waterford castle was recommended to us and we fell in love with it. It would be a great shame not only for us but for the many other people who must be in the same position as us. We booked the entire castle and 10 lodges for 2 nights and if we can't have the ceremony there I will be mortified.

Having read the posts on here, I agree that it will have to be sold as one lot, and as we all know in the current climate finding a creditable buyer will be very difficult

NEXT MAY !!!????

I would be asking for a refund NOW. Your fully entitled to with no risk of losing your deposit due to the liquidation process. Id rather be safe then crying the day before!

Addictedtogolf

I organise high level golf events and have a lot of connections in India, China, Hong Kong and Asia in general.
With the right supports from those now in charge this could easily be turned into a very exclusive Private members golf club.
Currently golfers in Hong Kong and Mission Hills in China are paying €200,000+ up to a million to join a golf club.

100 Worldwide members at €200k is 20million.
Give them all a 1% share in the company (Who would not want to own a piece of an Irish castle for 200k?) and then with this investment sell the houses to private owners. 250k x 50 is 10 million.

12-20 to buy and upgrade the golf course & hotel and 10 in the bank to maintain.
Current members would remain members and could also do limited green fees to generate revenue. Could also still run the hotel but upgrade a little.

You would have no problem getting 10k a year subs from these wealthy members and can also sell corporate memberships.
I met 10 Chinese guys at the Open championship last week that spent 100k each to go to the golf via private jet and live it up for a week.

Would only cost about 100-150k to put this all together and exhibit at some major golf shows in China, Asia and some advertising in key golf magazines and the Wall street journal in the US.

Just takes a little vision but in Ireland that is very rare...!!!

TheGormog

I got talking to a scottish chap over a few smokes outside the Wander last Thursday.

He told me that he is a freelance surveyor working for a German architectural firm. Something GMBH something.

Anyway after a few pints of Coors Light (iced tap) he told me that there's a major public-private partnership development under heavy consideration.

After a small few glasses of Bushmills he asked me - 'listen ned, what is the one piece of civil infrastructure that the south east of Ireland doesn't have? A prison!'.

Apparently a prison fit to house upwards of 1,200 people is being proposed for the island. Funded by EU grants and German finance, the government will pay an annual fee to investors over a period of 40 years. A mix of an open prison based on existing housing stock and a purpose built compound for a higher risk inmates.

GUEVARA50

Addictedtogolf wrote: »

I organise high level golf events and have a lot of connections in India, China, Hong Kong and Asia in general.
With the right supports from those now in charge this could easily be turned into a very exclusive Private members golf club.
Currently golfers in Hong Kong and Mission Hills in China are paying €200,000+ up to a million to join a golf club.

100 Worldwide members at €200k is 20million.
Give them all a 1% share in the company (Who would not want to own a piece of an Irish castle for 200k?) and then with this investment sell the houses to private owners. 250k x 50 is 10 million.

12-20 to buy and upgrade the golf course & hotel and 10 in the bank to maintain.
Current members would remain members and could also do limited green fees to generate revenue. Could also still run the hotel but upgrade a little.

You would have no problem getting 10k a year subs from these wealthy members and can also sell corporate memberships.

Would only cost about 100-150k to put this all together and exhibit at some major golf shows in China, Asia and some advertising in key golf magazines and the Wall street journal in the US.

Just takes a little vision but in Ireland that is very rare...!!!

One little little Problem in your proposal ,,,, its "Waaaaaaaaaterford",, not the place where these big balls would hang out and play !!!

GUEVARA50

TheGormog wrote: »

I got talking to a scottish chap over a few smokes outside the Wander last Thursday.

He told me that he is a freelance surveyor working for a German architectural firm. Something GMBH something.

Anyway after a few pints of Coors Light (iced tap) he told me that there's a major public-private partnership development under heavy consideration.

After a small few glasses of Bushmills he asked me - 'listen ned, what is the one piece of civil infrastructure that the south east of Ireland doesn't have? A prison!'.

Apparently a prison fit to house upwards of 1,200 people is being proposed for the island. Funded by EU grants and German finance, the government will pay an annual fee to investors over a period of 40 years. A mix of an open prison based on existing housing stock and a purpose built compound for a higher risk inmates.

Jaysus ,, that would be great ,,, instant diminished value of all the houses in the lane, powercourt and Kings channel to ZERO !!!

Id love the thought of buying a house down there and the prospect of drug dealers, Dublin hoods and rapists etc coming over me garden wall after doing an Alcatraz escape !!!

Id sure leave the kids in the back garden roaming free !!!! It would be Berettas and infra red cameras 24/7 out the back window!

Addictedtogolf

GUEVARA50 wrote: »

One little little Problem in your proposal ,,,, its "Waaaaaaaaaterford",, not the place where these big balls would hang out and play !!!

Very wrong. If the course was seriously upgraded and marketed right 200k is nothing to these people. If they visited once a year it would be a lot but its more for status that that "own a piece of an Island in Ireland with a Castle and a golf course". We have an airport that's only 20min away that can take private jets from London.

These people don't join to play every week or month. Its just something exclusive to own that there friends don't have. Limit it to 100 and you would sell out in 6months or less guaranteed. Rory or G-Mac to do an opening Pro-Am and they would bring there golfing friends. Members stay in the Castle or Mount Juliet and I guarantee you they would love it.

200k is the price of a watch in China or Hong Kong.

GUEVARA50

Addictedtogolf wrote: »

Very wrong. If the course was seriously upgraded and marketed right 200k is nothing to these people. If they visited once a year it would be a lot but its more for status that that "own a piece of an Island in Ireland with a Castle and a golf course". We have an airport that's only 20min away that can take private jets from London.

These people don't join to play every week or month. Its just something exclusive to own that there friends don't have. Limit it to 100 and you would sell out in 6months or less guaranteed. Rory or G-Mac to do an opening Pro-Am and they would bring there golfing friends. Members stay in the Castle or Mount Juliet and I guarantee you they would love it.

200k is the price of a watch in China or Hong Kong.

id prefer the prison idea !!!
better class of criminals !

Addictedtogolf

GUEVARA50 wrote: »

id prefer the prison idea !!!
better class of criminals !

Why does that not surprise me from an Irish person...!!! (If you are Irish)
Serious way out of a mess and turn the place into something amazing like it was when it first opened.

GUEVARA50

Addictedtogolf wrote: »

Why does that not surprise me from an Irish person...!!! (If you are Irish)
Serious way out of a mess and turn the place into something amazing like it was when it first opened.

Oh be jaysus Im Irish,, i have the thick Irish head to go with it!!

Sure, turn it into a millionaires playground and us common people can watch from behind the wall, (river) at all the "200k " Rolex watch wearing Boyz talking about their assets , private jets, gangs n paid women etc etc.

They may leave a few of us common local people over to serve/work for them, serving caviar and champagne while they plot another third world exploitation. Id rather vomit inside out.

just a different class of overlord to the previous ones from UK we had in generations gone by.

I'd MAKE it Public for all to enjoy ,, not some private lickhole island where your like can rub shoulders with them and be ingratiated with their superior human abilities. Christ almighty!!!

Go for it Mr Brown tongue!!!

bradolf pittler

So not only do criminals in jail have luxuries like sky sports and the like....they would now have their own private golf course???????
This countries going to hell.
HELL I TELLS YA!!!!!!!!
:P

bryangiggsy

Addictedtogolf wrote: »

Why does that not surprise me from an Irish person...!!! (If you are Irish)
Serious way out of a mess and turn the place into something amazing like it was when it first opened.

Are you for real ? I take it you dont work in marketing or sales .... 200 members 200k ... Once a yr... In waterford.... Pass the pipe.

bryangiggsy

TheGormog wrote: »

I got talking to a scottish chap over a few smokes outside the Wander last Thursday.

He told me that he is a freelance surveyor working for a German architectural firm. Something GMBH something.

Anyway after a few pints of Coors Light (iced tap) he told me that there's a major public-private partnership development under heavy consideration.

After a small few glasses of Bushmills he asked me - 'listen ned, what is the one piece of civil infrastructure that the south east of Ireland doesn't have? A prison!'.

Apparently a prison fit to house upwards of 1,200 people is being proposed for the island. Funded by EU grants and German finance, the government will pay an annual fee to investors over a period of 40 years. A mix of an open prison based on existing housing stock and a purpose built compound for a higher risk inmates.

I heard they are going to reopen Mosney as a holiday camp and open up Waterford castle as an immigration center ! Plenty of houses plenty of room free golf.

GUEVARA50

bryangiggsy wrote: »

Are you for real ? I take it you dont work in marketing or sales .... 200 members 200k ... Once a yr... In waterford.... Pass the pipe.

the clincher is we could throw in free BLAAS for their morning brekkies,,

200k a year to have the vista of Waaaaaaterford city n the Port over your 9 iron and blaa flour stuck to your fingers when your trotting out for a round,,,,,, sure aint that glorious ,, almost heavenly !!!

those luvvly 200k rolex wearning chinese wouldnt know what hit them

Addictedtogolf

bryangiggsy wrote: »

Are you for real ? I take it you dont work in marketing or sales .... 200 members 200k ... Once a yr... In waterford.... Pass the pipe.

Yes actually work in both. But I see the world through different eyes to you.
Look at The K Club. a golf course built in a field with no features but it became a billionaires playground.

We have an ISLAND with a CASTLE on it and a 18hole golf course that could be quite nice with some money spent on it.

I am amazed that the concept of bringing rich people to the area a bad idea.. Lets just let it go to hell and lose the 80 jobs.

And Yes the current members would still get to play there along with anyone else that wants to. I just want to see the place survive and not get closed down. My first job was there when I was 15 and I love the place. Also love Waterford and trying to offer a real option but most people will knock it because the "Rich wear Rolex".
If you cant deal with rich people then you are in the right country as they rich are gone.

So if I can bring 100 rich golfers over and have the place survive you don't want it?

Or the other option. let the place close down because there is no money in Waterford to do anything with it. They cant afford to fill a pothole.

comeraghs

We need more people in Waterford like you Addicted to Golf. Positive attitude. Never mind the begrudgers! Plenty of fight left in Waterford yet.

Waterford castle Management

Elliotlumb wrote: »

Hi all. I have just found and joined this site. I am slightly worried to say the least as I have my wedding booked for a full weekend at the castle next May. I took a call from the wedding planner on Saturday to assure me my deposit ( of several thousand pounds) is safe. Me and my fiancé have spent the best part of 2 years trying to find the perfect venue, we exhausted everything England had to offer and started to look in Ireland. Waterford castle was recommended to us and we fell in love with it. It would be a great shame not only for us but for the many other people who must be in the same position as us. We booked the entire castle and 10 lodges for 2 nights and if we can't have the ceremony there I will be mortified.

Having read the posts on here, I agree that it will have to be sold as one lot, and as we all know in the current climate finding a creditable buyer will be very difficult

Hi Elliotlumb

As stated by the castle it will be business as normal and the castle is trading day to day as normal. As we all know there are loads of hotels in receivership for instance The five star Lyrath Hotel, the Ritz Carlton or Fota Island Resort, all these hotels are trading as normal just like Waterford Castle will... The Fota Island Resort has been in receivership for over two years and all their weddings have went ahead as planned and is trading perfectly. There is no worry for Waterford Castles future as stated on your call you received the other day. The castle looks forward to a very bright future. If you have any queries please do not hesitate to contact the castle

Waterford castle Management

GUEVARA50 wrote: »

NEXT MAY !!!????

I would be asking for a refund NOW. Your fully entitled to with no risk of losing your deposit due to the liquidation process. Id rather be safe then crying the day before!

Hi Guevara50,

This is actually untrue. The Castle will continue to trade as normal. All weddings have no fear of losing their deposits and all are honoured. We at the castle are looking to the future and hope to increase business and look forward to a successful future.

Addictedtogolf

Waterford castle Management wrote: »

Hi Guevara50,

This is actually untrue. The Castle will continue to trade as normal. All weddings have no fear of loosing their deposits and all are honoured. We at the castle are looking to the future and hope to increase business and look forward to a successful future.

Great to hear. Very best of Luck as you have an amazing product.

bryangiggsy

Waterford castle Management wrote: »

Hi Elliotlumb

As stated by the castle it will be business as normal and the castle is trading day to day as normal. As we all know there are loads of hotels in receivership for instance The five star Lyrath Hotel, the Ritz Carlton or Fota Island Resort, all these hotels are trading as normal just like Waterford Castle will... The Fota Island Resort has been in receivership for over two years and all their weddings have went ahead as planned and is trading perfectly. There is no worry for Waterford Castles future as stated on your call you received the other day. The castle looks forward to a very bright future. If you have any queries please do not hesitate to contact the castle

Thats good to hear. Attended a wedding there recently and thought it was fabulous. Sounds like you guys are ticking all the boxes on finding a realistic way out of the current issues. However if things do go south there may be a diamond in the rough at the golf club. With contacts in India Hong kong and china addicted to golf can guarantee you 100 members from these affluent countries to chip in 200k each a year to keep the place afloat. Problem solved. Gordon Gheko is only 100 yards away if needed.

Waterford castle Management

Addictedtogolf wrote: »

Yes actually work in both. But I see the world through different eyes to you.
Look at The K Club. a golf course built in a field with no features but it became a billionaires playground.

We have an ISLAND with a CASTLE on it and a 18hole golf course that could be quite nice with some money spent on it.

I am amazed that the concept of bringing rich people to the area a bad idea.. Lets just let it go to hell and lose the 80 jobs.

And Yes the current members would still get to play there along with anyone else that wants to. I just want to see the place survive and not get closed down. My first job was there when I was 15 and I love the place. Also love Waterford and trying to offer a real option but most people will knock it because the "Rich wear Rolex".
If you cant deal with rich people then you are in the right country as they rich are gone.

So if I can bring 100 rich golfers over and have the place survive you don't want it?

Or the other option. let the place close down because there is no money in Waterford to do anything with it. They cant afford to fill a pothole.

Addictedtogolf, the staff of Waterford Castle Hotel and Golf Resort work very hard and are a credit to the resort. They have won many prestigious awards both national and international. Looking forward, the castle has a bright future and the staff will continue to work hard as they are very passionate about their jobs.

JPA

Has anyone verified this account?!

Addictedtogolf

bryangiggsy wrote: »

Thats good to hear. Attended a wedding there recently and thought it was fabulous. Sounds like you guys are ticking all the boxes on finding a realistic way out of the current issues. However if things do go south there may be a diamond in the rough at the golf club. With contacts in India Hong kong and china addicted to golf can guarantee you 100 members from these affluent countries to chip in 200k each a year to keep the place afloat. Problem solved. Gordon Gheko is only 100 yards away if needed.

Cheers.

Layinghen

Waterford Castle Management booked to stay with you in November (3rd visit to your wonderful hotel). Great to hear my stay can go ahead as I was very worried that you might have to close.

gowley

Waterford castle Management wrote: »

Hi Guevara50,

This is actually untrue. The Castle will continue to trade as normal. All weddings have no fear of losing their deposits and all are honoured. We at the castle are looking to the future and hope to increase business and look forward to a successful future.

hope this is the case but i just wonder how a company in liquidation can give these assurances. surely it isnt down to the castle management but a new investor .

0rt

so i dont get my own castle?

pwurple

Sorry to hear this. Attended a fantastic wedding in waterford castle this year. Food was great, service was great, surroundings were amazing, couldn't fault them.

I see the team there putting in massive efforts all the time, their facebook page has awards being won etc. Really hope they pull out of this with some help from liquidators. It can be done.

gordongekko

bryangiggsy wrote: »

Gordon Gheko is only 100 yards away if needed.

im out. Epic thread tho. I hope nobody loses their job. But I look forward to seeing what happens to this. Its currently between becoming a prison or wealthy Chinese getaway. My moneys on someone like John lally or some other experienced hotelier purchases the premises.

7upfree

gscully wrote: »

Bore off! Where did I joke about 80 people losing their jobs? It's sadder that you choose to invent scandal in order to take the moral high-ground.

I hope it never threatens your job. There but for the grace of God go any of us.