Business News

Prime Dublin city locations go on the market

By Business & Finance
29 June 2016
Clayton Hotel
Clayton Hotel, Cardiff Lane, Dublin 2

Savills has been appointed to sell Shelbourne House in Ballsbridge, Dublin 4, as well as property at the Clayton Hotel in Dublin 2.

Shelbourne House is a mixed-use building with a guide price is in excess of €31m.

Ballsbridge is a vibrant commercial hub and has seen significant redevelopment in recent times.

The area is recognised as Dublin’s premier residential business and embassy district and is considered a distinguished residential address.

Ballsbridge is also home to many of Ireland’s major international occupiers such as Eirgrid, IBM and AIB Bankcentre along with various government and embassy entities.

Domhnaill O’Sullivan of Savills commented: “Given the central location of Shelbourne House within Ballsbridge, the high calibre of tenants, in conjunction with an investor appetite to undertake some refurbishments if tenants vacate and increase value through rental growth, we anticipate a strong level of interest in the property from both international and local investors.”

Shelbourne House

Shelbourne House

Just a stone’s throw from Ballsbridge, 62 bedrooms in the Clayton Hotel, Cardiff Lane, Dublin 2 have also been brought to the market by Savills with a guide price of €8m.

The four-star hotel opened in 2005 with 213 bedrooms and was extended to 304 bedrooms in 2008, making it one of central Dublin’s largest hotels.

The immediate area is home to many global businesses, including Accenture, AirBnB, Facebook, Google, HSBC and State Street, along with several leading law firms such as Matheson, McCann Fitzgerald and William Fry.

It is also ideally located for leisure guests as it is opposite the Bord Gáis Energy Theatre and near The Convention Centre Dublin, 3Arena, Lansdowne Road and Croke Park.

Tom Barrett, head of Hotels and Leisure at Savills, commented: “This sale offers investors a rare opportunity to acquire a meaningful interest in one of Dublin’s most profitable hotels. The Clayton Hotel is located at the epicentre of this development and can be expected to be a long-term beneficiary.”