CBRE Hotels have today confirmed their instructions to offer the modern and centrally located Jacobs Inn Hostel, 21-28 Talbot Pace, Dublin 1 to the market for sale by private treaty. The property is being sold on behalf of Tetrarch Hospitality.
The purpose built hostel with 428 bed spaces is located on Talbot Place, just off Talbot Street, near a range of public transport facilities including Connolly Mainline Railway Station, LUAS, DART and Busaras, Dublin’s main bus station. The hostel is also convenient to Dublin Airport and the ferry terminals at Dublin Port.
Offers in excess of €13.5 million are being sought for the property.
Jacobs Inn was first opened in 1997 and in the intervening period has become a well-established and profitable hostel. Since its acquisition by the present owners in 2014, an extensive programme of refurbishment has taken place to enhance and improve the existing facilities.
The hostel now boasts 65 modern bedrooms offering a range of accommodation facilities including dormitories and private rooms to accommodate 428 bed spaces. Other facilities within the hostel include an open plan reception area, funky chill out area, games room, guest self-catering kitchen, dining room, laundry room and an extensive luggage storage area. On the third floor there is an outside terrace with excellent views of Dublin.
Within easy walking distance are a host of tourist attractions including Trinity College (Book of Kells), the GPO, Garden of Remembrance, Dublin Castle, Christchurch Cathedral and Guinness Storehouse.
Director CBRE Hotels, John Ryan says, "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 hostels 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 expenditure required. In addition, there is scope to further develop the business in line with the continued growth in tourism in the Dublin market."
Source: www.businessworld.ie
