Thursday 22 March 2018

The Dawson in central Dublin hits the market with €15m price tag

Morrisey's and Savills are guiding €15m for the Dawson Hotel in Dublin 2
Morrisey's and Savills are guiding €15m for the Dawson Hotel in Dublin 2
Peter Flanagan

Peter Flanagan

Morrissey's and Savills have been retained as agents to sell "The Dawson" in central Dublin with a guide price in the region of €15m.

The Dawson is described as "an unrivalled licensed opportunity located at 35-36 Dawson Street, Dublin 2".

It is being offered for sale by public tender. The tender is scheduled to take place at noon on June 17.

It comprises two interconnecting period buildings that incorporate Sam's Bar, the Dawson Brasserie which was formerly known as La Stampa, a vacant restaurant premises in the basement which at one point operated under the brand Faat Baat, 36 guest bedrooms and the Dawson Spa.

The four storey over basement premises has rear access to Anne's Lane and the freehold interest is available with vacant possession.

The 3,375 sq m (36,300 sq ft) property is one of the most popular night spots in the city centre, and has substantial footfall throughout the week.

Tony Morrissey of Morrissey's commented "The Dawson represents a unique opportunity to acquire an unrivalled Licensed Premises Complex incorporating 36 Bedrooms and Spa situated at the centre of Dublin's principle business, retailing, tourism and entertainment district".

Savills' Tom Barrett meanwhile said the property "represents a rare opportunity to acquire one of Dublin's most substantial Licensed Premises with significant asset management potential.

"We expect strong domestic and international interest," he added.

The property is beign sold on the instructions of Declan McDonald of PwC who is acting as receiver over the premises.

The licensed premises market has been improving steadily in recent months albeit from a low base.

This is the latest sale of a Dawson St property. Cafe en Seine changed hands last year in a portfolio sale, while an office block on the opposite side of the street has changed hands.

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