Dublin's Bram Stoker Hotel on block for €950,000
CBRE has been retained to sell a north Dublin hotel for just under €1m.
The firm is seeking a buyer for the Bram Stoker Hotel at 225 Clontarf Road, Dublin 3.
The hotel, which CBRE describes as "a unique hotel investment property located in Clontarf" is on the market for €950,000.
The hotel is being sold on the instructions of David Van Dessel, Deloitte. The Bram Stoker Hotel (formerly Clontarf Court Hotel) is located on the Clontarf Road, a principal thoroughfare linking the affluent north Dublin suburbs of Clontarf, Raheny, Sutton and Howth to the city centre.
The Bram Stoker Hotel is a period mainly three storey 25 bedroom hotel with "extensive" bar and restaurant facilities. The accommodation comprises a ground floor lounge bar with overhead a separate fully fitted and equipped restaurant and catering kitchen. At the back of the property there is a three storey extension/accommodation block with parking for 12 cars at ground level. In total there are 25 en suite bedrooms with a lift serving all floors.
The property occupies a site of 0.11 ha (0.27 acres) and is zoned residential (Z1) under the Dublin City Development Plan 2011 to 2017.
The hotel is currently let on a short four year and nine month lease from the start of June 2012 and expires in February 2017 at a rent of €90,000 per annum. The tenant is not affected by the sale.
According to the agents, the property "enjoys panoramic views of Dublin Bay and the scenic Bull Island, home to the famous Royal Dublin Golf Club and St Anne's Golf Club.
"The property is also convenient to St Anne's Park and a host of leisure and other amenities.
"The property is situated in the densely populated and much sought after residential suburb of Clontarf and is immediately adjacent to Clontarf Yacht Club and Clontarf bus depot.
"The hotel enjoys convenient access to Dublin city centre which is only 5km from the hotel while Dublin International Airport is approximately 10km away. The property is well served by public transport and has easy access to both the M50 motorway network and to the Port Tunnel," it said.
According to selling agent John Hughes of CBRE "the sale of The Bram Stoker Hotel offers a unique opportunity to acquire a prominently located hotel property with substantial current annual rental income."
The sale of the Bram Stoker Hotel will be closely watched given it is one of the few suburban Dublin hotels to hit the market in recent months.