Dublin,
26
July
2016
|
15:11
Europe/Dublin

Twelfth Lock Hotel In Castleknock Sold

Dublin, July 2016 – CBRE have confirmed that the Twelfth Lock Hotel, Castleknock, Dublin 15 has changed hands in a private treaty deal.

The Twelfth Lock Hotel occupies a unique and picturesque trading location overlooking the Royal Canal at Castleknock Marina. The property is located on the Old Navan Road just off the main Dublin/Navan N3 Road and close to its intersection with the M50. The property is situated in a densely populated residential area and is just a few minutes walk to the villages of Castleknock and Blanchardstown and is within close proximity to the famous Phoenix Park. In addition, the property is convenient to Blanchardstown Shopping Centre and to the many business parks and industrial estates located in and around the Blanchardstown area. The hotel also enjoys convenient access to both Dublin City Centre, which is approximately 10kms away and to Dublin Airport via the M50.

The Twelfth Lock Hotel is a modern, purpose built 10 bedroom boutique hotel which occupies a site of 0.188 ha (0.46 acres). The site is bordered by the Royal Canal on one side and the main railway line on the southern boundary.

The property extends to c. 649 sq m and the accommodation comprises ground floor reception, lounge bar, restaurant and catering kitchen together with an extensive patio and beer garden overlooking the canal. At lower ground floor level there are ten ensuite guest bedrooms together with ample storage facilities while at mezzanine level there is an office and additional storage facilities. Outside there is a large car park with parking for 44 cars.

The property was acquired by Castleknock based entrepreneur Greg Browne who already operates several highly successful bars and restaurants in and around the Castleknock area including De Bruns, Trentuno’s and Castello Bruno. It is understood that Mr Browne intends to revamp the premises to provide a high quality bar with casual canal side dining and a separate seafood restaurant to compliment the luxury boutique accommodation. In addition, a specialist ice cream parlour will be developed to exploit the unique location of the property.

According to John Ryan of CBRE the sale of the Twelfth Lock Hotel generated significant interest from hoteliers, restauranteurs and publicans given its unique canal side location and the opportunity it presented to develop a substantial food, drink and accommodation business and exploit its unique setting.

John Ryan would not disclose the sale price but market sources understand that a price close to €2.5m was achieved 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.