The sale of the former Imperial Hotel in Castlebar has collapsed.
Elected councillors were informed of the setback yesterday.
The potential investors have pulled out of purchasing the property, after a formal agreement was reached by the local authority to put the building out for expressions of interest, last December.
This will further delay the renovation of a site which has fallen into dereliction during the ownership of the council. Mayo County Council bought the premises in 2011 for €800,000.
The original plan for the Imperial Hotel, under the Urban Regeneration and Development fund (URDF) project, was to convert it into an Innovation Hub.
However, instead, elected councillors voted to allow it to be sold to private investors, hoping to ensure that the premises would re-open as a hotel.
The Cathaoirleach of Castlebar Municipal District Donna Sheridan says the sale falling through is a huge disappointment but says the original idea of developing the premises as an Innovation Hub is again firmly on the table.
She has been speaking to Midwest News Editor Teresa O’Malley….
