Longford businessman Pat Glennon has confirmed to the ‘Longford Leader’ that his company, Glennon Brothers, have purchased the Carriglas development on the outskirts of Longford town.
The sale was finally completed late last week after protracted legal matters, and Mr Glennon has said that they plan to sit tight for six months before making any decisions on the future of the extensive property.
“We’re not certain what our plans are at this stage. We just want to hold and look at everything.”
Mr Glennon would not confirm the purchase price for Carriglas but industry sources estimate that the price is in the region of €1.1 - €1.3 million.
Together with his brother, Mike, Pat Glennon runs Glennon Brothers, one of the most successful timber processors in Europe.
The firm celebrated its centenary last year and is one of the county’s largest indigenous employers.
The Carriglas development was to have been Longford’s gold star Celtic Tiger project with a five-star resort; 96-bedroom hotel and a golf course alongside a 322-unit housing development.
Today, however, the part-finished development is a much-maligned shadow of the planned €160 million project that was once envisaged by the late developer, Tom Kearns, when he purchased it in 2004 from the Lefroy family.
At 605 acres, Carriglas Manor is understood to be the largest single holding of land in the county.
The old Manor house and its Gandon-style courtyard have sadly been extensively vandalised over the last number of years.
A Dublin firm of auctioneers was engaged by the banks to sell the development by tender, with October 31 last the deadline for submissions. A likely sale was first suggested a number of months ago, but it was only concluded late last week.