Carnegie Court Hotel in Swords with €4.75m guide
Published 28/04/2016 | 02:30
Savills has been retained to seek a buyer for a three star hotel in Co Dublin.
The firm is marketing the Carnegie Court Hotel in Swords.
The agents say the hotel is a modern 36 bedroom property close to Dublin Airport.
The "well-established" hotel was purpose built in 2001 and comes with full grant of planning to convert existing areas into an additional 35 bedrooms.
Savills head of hotels Tom Barrett commented: "The Carnegie Court Hotel is an established, well located Dublin hotel. It is trading profitably and with recent planning permission presents a very attractive opportunity to add bedrooms in a market with huge demand and a very limited pipeline of new bedrooms."
The hotel is on the market by private treaty.
The property is said to be home to one of Swords best known bars - The Harp. The Courtyard restaurant serves a wide selection of food while the 'Rouge' nightclub has a capacity of 400.
The hotel features conference and banqueting facilities which provide flexible air-conditioned meeting rooms and function space capable of hosting up to 300 guests.
The agents note the hotel is a popular venue for weddings and other occasions.
If the planning permission is utilised on, Savills say the hotel is well-placed to capitalise on improved market-trading conditions, offering investors an "established modern hotel with a strong reputation and excellent connectivity to Dublin and Ireland's busiest airport".
Over 25 million passengers used Dublin Airport in 2015 and passenger numbers grew by 17pc in the first quarter of 2016.
According to STR, hotels in the Dublin Airport area achieved average occupancy of 87pc in 2015 and RevPAR grew by over 26pc compared to 2015. Carnegie Court Hotel also benefits from its proximity to the city centre and local corporates including Fyffes, Medtronic & Ryanair and numerous nearby attractions.