Ballymun hotel up for sale

THE Metro Hotel and 30 adjoining apartments at Santry Cross has gone on sale with a guide price of

?¬5.5 million. The landmark 15 storey, three star hotel development also includes a retail unit.

Selling agents Savills say the hotel and apartments are being offered for sale in three lots. Lot one, which includes the entire hotel and apartments, is available at a guide price of e5.5 million.

Lot two, comprising of just the hotel, is guided at

?¬2 million. Lot three, the apartments, are available at a guide price of

?¬3 million.

The hotel development is located 5km from Dublin Airport and 7km from Dublin City Centre. According to Savills, the hotel is well positioned to attract both leisure and corporate guests with easy access to the M50 and M1 motorways.

The sellers say the hotel is consistently profitable and comprises of 88 bedrooms (including 16 suites), a bar, restaurant and conferencing facilities over five floors.

The 30 apartments are two bedroom units located on the top ten floors of the building.

The apartments are currently let on short term residential tenancies and produce an annual rental income of approximately

?¬384,000.

The ground floor retail unit is currently occupied by the Tanning Cove Solarium under a three year license agreement from 2013. The hotel development also has approximately 160 car parking spaces.

Tom Barrett of Savills says the agents are expecting plenty of interest as the Dublin market is the strongest performer in the Irish hotel sector and the city is one of the best performing capitals in Europe.

“The Metro Hotel & Apartments offers an excellent opportunity to acquire a unique mixed use property poised to benefit from continued strong recovery in the Dublin hotel sector and a thriving residential rental market,

? he said.