The four-star Trinity Capital Hotel on Pearse Street, Dublin, has been brought to market.
The 195-bedroom hotel is being sold for between €30m (£26m) and €35m.
The property is owned by brothers Liam and Des O’Dwyer, whose hotel and pub group, Toji Holdings, has had net debts of around €116m transferred to Nama.
The purpose-built hotel was opened in 2000 and is being offered unbranded.
It also comprises three meeting rooms, a fitness centre and courtyard garden, vacant ground floor and basement, and planning permission for 52 bedrooms in a property under separate ownership.
Paul Collins of CBRE Hotels, which is advising Toji, said: “It is rare that such a high-profile hotel comes to the market. We expect exceptional interest in this quality asset with much of this to come from international buyers. Trinity Capital is highly profitable and there is considerable further potential – whether that is through improving room rate, building the bedrooms or leasing/operating the ground floor and basement of the former fire station building. There are also very valuable unutilised capital allowances available to a new purchaser.”
annabel.dixon@estatesgazette.com
