It's been announced that CBRE Hotels will be putting the Jacobs Inn Hostel on Talbot Pace on the market by private treaty on behalf of Tetrarch Hospitality. Businessworld.ie reports that offers in excess of €13.5 million are being sought for the property.
Featuring 65 bedrooms as well as a variety of dormitories and private rooms encompassing a total of 428 bed spaces, the purpose built hostel also offers guests access to a self-catering kitchen, games room, laundry room and a large luggage storage area.
The Jacobs Inn is in close proximity to a number of public transport hubs, including Connolly Station and Busaras and is easily accessible from both Dublin port and airport. It is also within walking range of some of the city's most popular tourist attractions such as Trinity College, the GPO, Dublin Castle and Christchurch Cathedral.
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CBRE Hotels director John Ryan commented that "The hostel, which caters for both individual budget travelers and groups, is highly profitable with increasing revenues and is one of Dublin's top-rated hotels on Tripadvisor. As a result, it is likely to appeal to many hostel operators and investors as it is being offered unencumbered of brand or third party management agreements, providing intending purchasers complete flexibility. Most importantly, the property is presented in "turn-key" condition with no substantial capital experience required. In addition, there is scope to further develop the business in line with the continued growth in tourism in the Dublin market."