Centrally Located Abbey Hotel For Sale
Dublin, March 2017 – CBRE have confirmed their instructions to offer a centrally located Dublin city hotel to the market with the announcement that The Abbey Hotel, 52 Middle Abbey Street, Dublin 1 is for sale by private treaty.
The Abbey Hotel is a boutique 21 bedroom hotel, bar and restaurant centrally located in the heart of Dublin, just off O’Connell Street and close to the GPO. The property is convenient to a host of tourist attractions including the vibrant Temple Bar area, Trinity College, Dublin Castle and the Guinness Storehouse.
Ideal as a shopping base, The Abbey Hotel is just 300m from the Henry Street / Mary Street shopping precinct while the Grafton Street shopping area is a short walk away. The hotel is also close to many theatres, concert venues and sporting stadia and to a host of business generators including the IFSC, Convention Centre and the Four Courts.
The hotel is well served by public transport with LUAS running directly outside its door. The new Cross City Luas will further enhance accessibility.
The hotel is also located in an area of Dublin earmarked for many new hotel and retail developments which will further enhance the appeal of the location.
According to John Ryan the sale of The Abbey Hotel offers the discerning hotelier an opportunity to acquire a well-positioned hotel property which is presented in turn key condition. At present a very satisfactory level of turnover is generated in the premises but there is further upside potential to grow the business particularly in the bar and restaurant areas. In addition, there is the potential to expand the accommodation with 12 extra bedrooms (subject to the necessary planning permission). John Ryan believes the sale of The Abbey Hotel is likely to appeal to a host of purchasers including investors, hoteliers, hostel operators, publicans, nightclub operators and restaurateurs.
Offers in excess of €3.5m are being sought for the property.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 165 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, business rates and compulsory purchase, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.