Temple Bar Hotel up for sale
Published 27/08/2014 | 14:13
A Dublin city centre hotel is expected to fetch up to €30m when sold on the international market. excel
The 132 bedroom Temple Bar Hotel, in the heart of the tourist hot spot, is described as as being “highly profitable” with a vibrant food and beverage business.
The three-star premises also includes Busker’s Bar & Cafe and the Alchemy Night Club.
The site is being sold as a going concern by commercial real estate agents CBRE for FBD Property & Leisure, which operates hotels and golf resorts in Ireland and Spain.
It is understood guiding offers are in the region of €27m to €30m.
“The sale of the Temple Bar Hotel offers Irish and International hotel investors an outstanding opportunity to acquire a prime and profitable asset in a key international capital city,” said Dermot Curtin, Director of CBRE Hotels said.
“Profitable and well established Dublin city centre hotels rarely come to the market and this sale is especially significant as the Temple Bar hotel is being offered unbranded, freehold and with vacant possession.”
The successful buyer of the hotel – which is being sold by private treaty – may be able to add a further 27 bedrooms which are currently subject to planning permission.
It can also continue to trade under the already well established and independent ‘Temple Bar Hotel’ name, or rebrand it as a franchise or a well known international hotel brand, "many of which are extremely eager to establish a flagship presence in the ever more lucrative Dublin city centre market”, Mr Curtin added.