Dalata completes purchase of part-completed Cork City hotel
Dalata has completed a deal to buy a Cork hotel for €10.2m.
The biggest hotel operator in the country has agreed to take over the part completed hotel on Beasley Street in the centre of Cork City.
In a statement, Dalata said the site was granted planning permission for a 121 bedroom hotel in February 2006, and the hotel commenced construction in 2007, however works ceased shortly after the completion of the structural envelope and the building has remained in a shell and core state since then.
Planning had been granted for a double basement, ground floor and four floors above ground building, accommodating a car park, a spa / leisure centre, a reception area, bar, cafe and restaurant and 121 bedrooms.
Dalata expects to start construction work by the end of 2016 and the hotel should open in the first half of 2018.
The company say the hotel will employ about 60 people when it is completed. Overall, company expect to spend about €22m on the development of the hotel, including the cost of the site.
Dalata owns or operates some 42 hotels across Ireland.
It also owns a number of hotels in the UK.