€7m price tag on the former Ormond hotel
Published 10/06/2009 | 00:00
Bernard McNamara has placed the former Ormond Hotel, Ormond Quay Upper, Dublin 7, on the market with a price tag of €7m.
Made famous in James Joyce's Ulysses, the hotel had traded very successfully for many years as a 64-bedroom hotel with busy bars, restaurant and nightclub but closed down in 2006.
The existing building is over basement, ground and four upper levels and extends to approximately 2,800sqm. It also benefits from rear access to the property from Little Strand Street.
It is on a regular shaped site which extends to approximately 1,140sqm and is currently in "shell" condition ready for redevelopment or complete refurbishment and extension. This would allow hoteliers to reshape and fit it out in time for the opening of the National Convention Centre which will be a short boat ride away at Spencer Dock.
CB Richard Ellis Hotels and Browne Corrigan have been appointed as sole agents for the property which has 32m. of frontage on Ormond Quay.
Full planning permission exists to demolish the existing Ormond Hotel and construct a new hotel with a gross internal area of 6,724sqm. This permission is due to expire in September 2009. The sale will not include a hotel licence but Paul Collins of CBRE says that this will be relatively easy to attain.
As an alternative to the complete redevelopment, a feasibility study outlines how the property could be refurbished and extended to accommodate a 120 bedroom hotel. Other alternatives could include redevelopment as offices, retail or residential, subject to securing planning permission.
Mr McNamara has interests in a number of well known hotels around the country including the Burlington, Shelbourne and Conrad in Dublin, The Cork International Airport Hotel and The Great Southern in Parknasilla, Co.Kerry.