Wednesday 13 December 2017

Best bids sought for €8m Camden Deluxe Hotel

The Camden Deluxe Hotel and Entertainment Complex is located within Dublin city centre's vibrant 'Camden Quarter'
The Camden Deluxe Hotel and Entertainment Complex is located within Dublin city centre's vibrant 'Camden Quarter'
Ronald Quinlan

Ronald Quinlan

Investors seeking a foothold in the 'Camden Quarter' in Dublin city centre are being invited to submit offers for the Camden Deluxe Hotel and Entertainment Complex on Lower Camden Street.

The property is being sold by private treaty as a going concern by joint agents Morrissey's and CBRE with a guide price of €8m, and interested parties are required to submit best bids by 12 noon on Wednesday, December 7 next.

Having operated as a cinema until the 1970s, today the Camden Deluxe operates today as an entertainment complex with ancillary hotel accommodation consisting of 35 bedrooms laid out predominantly as doubles and twins.

Extending to approximately 3,900 sq m (42,000 sq ft), the agents believe the complex has "excellent potential to further develop the existing high-volume business that is enjoyed throughout the year".

The property also offers potential for alternative use or redevelopment subject to the new owner securing the appropriate planning permission. The complex has the benefit of an imposing 35.24 metres frontage on to Camden Street and occupies a site of approximately. 0.17 hectares. The building is located within an area that is zoned Z4 under the Dublin City Council Development Plan 2016-2022, "to provide for and improve mixed service facilities".

Located within Dublin city centre's busy Camden Quarter, the Camden Deluxe offers prospective owners the opportunity to profit from its existing business, and to take further advantage of the significant footfall generated by other attractions in the immediate area, including the renowned music venue Whelan's on Wexford Street, and the Dean Hotel and Copper Face Jacks on Harcourt Street.

Currently, Planet Murphy's bar and snooker hall operates on the property's ground floor level, while the Palace nightclub (formerly known as the Palace Theatre) is located on its first floor.

The premises has a beer garden, outside smoking area and delivery access via vehicular access on Pleasant's Lane to a cold room in the basement.

The former theatre premises is a protected structure and retains a number of its original features including an ornate ceiling, while the exterior of the former cinema is still intact. The building will be familiar to movie buffs, given its use as a location in multi-award winning film director Alan Parker's 1991 screen adaptation of Roddy Doyle's novel, The Commitments.

Tony Morrissey of Morrisey's said the Camden Deluxe offers an "an unrivalled opportunity to acquire one of Dublin's flagship entertainment venues which could be further developed".

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