Bram Stoker Hotel sells for nearly €1.5m
The Bram Stoker Hotel on the Clontarf Road in Dublin is understood to have been acquired by a private investor for just under €1.5m, well in excess of the €1m sale price guided by agents CBRE.
Formerly known as the Clontarf Court Hotel, the Bram Stoker was sold by CBRE's John Hughes on the instructions of receiver David Van Dessel of Deloitte.
The hotel - which is currently let on a four-year, nine-month lease from June 2012 - produces a passing rent of €90,000 per annum, a fact which Hughes said had "generated significant interest from investors and hoteliers wishing to acquire a prominently located hotel with substantial annual rental income".
Laid out for the most part over three storeys, the hotel consists of 25 bedrooms with a bar at ground floor level and a restaurant and catering kitchen on its first floor. Car parking for 12 cars is located to the rear of the property.
The Bram Stoker is well situated on the Clontarf Road and within easy reach of the affluent Dublin suburbs of Clontarf, Raheny, Sutton and Howth. The hotel occupies a good vantage point with views of Dublin Bay and Bull Island and is also convenient to St Anne's Park and numerous other leisure amenities, including Clontarf Yacht Club.
Located just 5km from Dublin city centre and 10km from Dublin Airport, it is well served by public transport and has easy access to both the M50 motorway network and to the Dublin Port Tunnel.