Dublin,
21
September
2016
|
08:00
Europe/Dublin

Opportunity To Acquire Dublin City Centre Hotel

Superb Trading Location Opposite the iconic Spire on O’Connell Street - Dublin’s Principal Street

Dublin, 21 September 2016 – CBRE Hotels have confirmed their instructions to offer Lynam’s Hotel O’Connell Street Dublin for sale with a guide price in excess of €4m.

Investment Highlights

  •  Superb trading location on Dublin’s principal thoroughfare
  •  A 42 bedroom city hotel - 1,280 sq m (13,800 sq ft)
  •  Excellent public transport including Luas, rail and bus services
  •  Adjacent to GPO, The Spire and Dublin’s premier shopping streets
  •  Easy access to cities tourist attractions and entertainment venues
  •  Area of rejuvenation with Luas Cross City to open in 2017

Lynam’s Hotel occupies a superb trading location opposite The Spire, an iconic Dublin landmark on O’Connell Street and the principal street of the city. Located in the heart of the vibrant city centre it is only a short walk to many of the city’s main attractions including Temple Bar, Trinity College, Guinness Storehouse, St. Stephen’s Green and Grafton Street.

Major developments including the €368m Luas Cross City extension and the redevelopment of nearby landmarks including the former Clery’s Department Store, the Dublin Central site and the Parnell Street Quarter will rejuvenate this part of Dublin city centre. Luas Cross City, providing the city with new connectivity and accessibility, is a major infrastructural investment which will enhance activity in the city centre and linking the main shopping streets – Grafton Street and Henry Street. Lynam’s Hotel will be only two Luas stops from Trinity College.

Dublin’s major venues – the 3 Arena, the Bord Gais Grand Canal Theatre, Convention Centre Dublin (CCD), Croke Park and the Aviva stadium are all very accessible.

Lynam’s Hotel proximity to public transport – the LUAS, DART and mainline railway stations – together with a journey time of under 30 minutes to Dublin International Airport, via the Dublin Port Tunnel, makes this an ideal location for visitors.

Originally a bank premises the four story over basement property was developed as a hotel in 2001.The hotel, currently not trading, includes 42 en suite bedrooms and extends to a floor area of 1,280 sq m (13,800 sq ft). The hotel includes a ground floor self-contained Café / Restaurant which offers a independent business opportunity with significant foot fall on this busy city street with numbers set to increase with the opening of the Luas Cross City. The hotel has frontage to O’ Connell Street and rear access for deliveries from Henry Place. The sale excludes the Spar shop which is separately owned and not involved in or impacted by the hotel receivership process.

The hotel is being sold on behalf of Aiden Murphy, Crowe Horwath, Receiver.

 

John Hughes, Director, CBRE Hotels
The sale of Lynam’s Hotel offers an excellent opportunity to re-establish a thriving high occupancy business in one of the best and most central trading locations in Dublin city centre. The sale will generate keen interest from existing hotel operators and investors.
John Hughes, Director, CBRE Hotels

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.