€1.7m For Killaloe Marina

A Killaloe Marina has sold for more than three times its guide price.

The 250-berth Lough Derg Marina has been purchased by a local investor, according to reports in the Irish Times.

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The price paid is pegged at €1.7 million, even though a guide price had been set at €550,000.

The marina has 500m of water frontage, and sits on a 7-acre site, but has fallen into disrepair in recent years and is in need of considerable works.