Temple Bar Hotel For Sale
A Quite Outstanding Opportunity To Acquire A Prime Dublin City Centre 3 Star Unbranded Hotel Superbly Located In The Heart Of Temple Bar
CBRE Hotels Dublin are delighted to confirm their exclusive appointment by FBD Property & Leisure to bring this prime Dublin city centre hotel asset - the Temple Bar Hotel - to the market and offer it for sale by private treaty as a going concern.
The Temple Bar Hotel is a highly profitable 3 star city centre hotel with 132 en suite bedrooms, a vibrant and comprehensive food & beverage operation and also boasting one of the Dublin’s favourite late night spots - Alchemy Night Club. It is very rare indeed that an opportunity such as this to acquire such a wonderfully located, city centre, contemporary hotel would arise and especially so, when the location is as central as Dublin’s famous Temple Bar.
Developed and opened in 1994 this contemporary style hotel is being offered unbranded which will allow the new owner decide whether to trade under its already strong independent name or relaunch the hotel with a top international brand, as either a franchise or with the benefit of a full Management contract. Many of the better known global brands are still not represented in Dublin city centre and the opportunity to have a flagship property in the very heart of Temple Bar will be a major attraction for these brands and for the specialist hotel investors who provide the equity and support to these branded hotels.
Located in a high profile position in the heart of the famous Temple Bar area – Dublin’s Left Bank and the city’s entertainment and social focal point - the hotel is perfectly positioned, in the centre of Dublin’s main business, shopping, and most popular tourist areas which includes Temple Bar itself, Trinity College, O’Connell Street, St. Stephens Green, and Grafton Street.
All of Dublin’s major venues – Convention Centre Dublin (CCD), the 02 Arena, the Bord Gais Energy Theatre, National Concert Hall, Croke Park and the Aviva Stadium - are easily accessible from the Temple Bar Hotel.
Key features of the Temple Bar Hotel include:
-Freehold, unbranded and superbly located city centre hotel with 132 stylish and contemporary en suite bedrooms
-Highly profitable with excellent all year round occupancy, strong average room rates and large volume F&B business
-Busker’s Bar & Cafe – open from early morning until late at night with entertainment and live music available 7 days a week and licensed for 750 guests
-Alchemy Night Club – licensed for 1,010 and one of Dublin’s favourite night spots
-Potential to add a further 27 bedrooms – subject to planning permission
The key performance statistics for the Dublin hotel market over the last three years show strong RevPar growth (Source: STR Global) and this trend is continuing right through 2014 to date. Dublin is already one of the top three best performing hotel markets in Europe and PwC’s forecast for this year and 2015 suggest it will remain amongst the best performing European markets for at least the next two years.
Dermot Curtin, Director of CBRE Hotels said: “The sale of the Temple Bar Hotel offers Irish and International hotel investors an outstanding opportunity to acquire a prime and profitable asset in a key international capital city. Profitable and well established Dublin city centre hotels rarely come to the market and this sale is especially significant as the Temple Bar hotel is being offered unbranded, freehold and with vacant possession. The successful purchaser will have the choice to continue trading under the already well established and independent ‘Temple Bar Hotel’ name - in its own right already a premium brand - or, as this modern hotel will easily convert, consider a franchise or a management contract with a well known international hotel brand, many of which are extremely eager to establish a flagship presence in the ever more lucrative Dublin city centre market”.
We understand that CBRE Hotels are guiding offers in the region of €27m to €30m for the hotel, whichy is being sold as a going concern.
For further information on this superb opportunity and for all enquiries relating to the sales process, please contact Dermot Curtin, CBRE Hotels – contact details below.
CONTACT: Dermot Curtin – 00 353 (0)1 618 5539 or e-mail:email@example.com
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 (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. 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 130 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, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie./ni