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Hotel

Dublin Mixed-Used Development With Four-Star Hotel Sold For €15m

By Dave Simpson

An Irish investment company has purchased a mixed-used development in suburban Dublin that includes a hotel and nightclub for a figure that's thought to be close to €1 million over the guide price at approximately €15 million.

As reported by The Irish Times, the six-storey development, located in Tallaght and dubbed The Plaza, features a four-star, 122-bedroom hotel and basement nightclub, as well as three floors of office space and three ground floor retail units.

Currently generating a rental income said to be €1,302,350 by CBRE, with potential to raise that figure further through the letting of vacant office space, The Plaza was sold under instructions from Declain Taite of Duff & Phelps and is comprised of a total of 18,653 square metres on a 2.8 acre site with 480 car parking spaces.

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