CBRE Hotels have confirmed their instructions to offer to the market one of Dublin’s most successful five-star hotels, The Marker, for sale by Private Treaty with a guide price of €125m.
The Marker enjoys a waterfront location within the Grand Canal Dock, Dublin 2, and is immediately adjacent to the Bord Gais Energy Theatre and Facebook’s headquarters. CBRE Hotels say this area has become the centre point of Dublin’s new office and residential developments and a global destination for many national and international tech and corporate occupiers including Google, Facebook, AirBnB and Salesforce.
As a result, the Hotel benefits from a wealth of corporate demand drivers as well as access to Dublin’s main tourist attractions and transport links.
The Marker is a short stroll to the Convention Centre Dublin (CCD) and is close to the soon to be constructed U2 Visitor Centre on Hanover Quay, which is set to become a major tourist attraction for the city. The Bord Gais Energy Theatre, operated by Live Nation and next door to the Marker, has a capacity of over 2,100 and is thriving with numerous events hosted throughout the year.
CBRE Hotels say the Marker provides hotel investors with a rare opportunity to acquire a luxurious hotel property with fashionable interiors, 187 guest bedrooms (including 18 Executive Rooms and 3 Suites), ground floor Brasserie and Marker Bar, sumptuous Spa facilities, the Marker Rooftop Bar & Terrace and extensive conference and banqueting facilities.
Furthermore, the hotel property comes with the benefit of full planning permission to add an additional three floors which will provide for a new rooftop bar and brasserie that will trade all year round and an additional 60 guest bedrooms bringing the total number of bedrooms to 247.
Commenting on the opportunity, Head of Hotel Investment Properties UK & Ireland at CBRE Hotels, Paul Collins said, "The sale of The Marker offers an exceptional opportunity to acquire a luxury hotel, free of branding or management, which provides a purchaser with flexibility and a range of options for future asset management initiatives."
He added, "Since its opening in 2013, the Hotel has established itself as a true landmark in the city and has played host to a myriad of celebrities, politicians and business people. The very valuable planning permission to increase the bedroom count to 247 keys will further improve the already strong trading performance of the Hotel."
Source: www.businessworld.ie
