Thursday, May 08 12:53:10
The George Botique Hotel in Limerick City was launched on the market today with a guide price of E3m.
The luxury 3 Star Hotel, which opened in 2006, has profile to both O' Connell Street - the main thoroughfare in Limerick City - and Shannon Street. It is laid out over 8 floors and comprises 124 bedrooms, bar and restaurant facilities. The entrance foyer, bar and restaurant are located on the first floor.
The hotel's GBK Italian Restaurant, which has frontage onto Shannon Street, is linked to the George Bar and can seat up to 90 patrons. The George Bar allows for casual dining and also serves as a meeting venue with seating for up to 50 people. Conference facilities in the hotel include 4 fully equipped meeting rooms that can accommodate up to 8 people boardroom style.
There has been a notable increase of activity in the Limerick hotel market over the past 18 months. The Radisson Blu on Ennis Road is currently under offer after going on the market for E3m in September. In November, the 151-bedroom sources say that the Jurys Inn sold for approximately E2.25m. The heightened interest in Limerick's hotels is reflected by figures from Trending.ie which show that RevPAR (Revenue Per Available Room) in the City increased by 7pc last year.
Savills Cork and DTZ Limerick have been appointed as joint selling agents.
Isobel O'Regan of Savills and John Buckley DTZ Limerick say "This hotel is in excellent condition and is in a great location in the heart of Limerick City. It is trading profitably and is well positioned to capitalise on the strong recovery being experienced in the Limerick hotel sector at present."