Dublin’s The Paramount Hotel brought to market for £17m

The Paramount Hotel in Temple Bar, Dublin is being brought to the market, offered for sale by private treaty with offers in excess of €20m (£17m) invited. The hotel, including the well known Turks Head Bar, has the benefit of full planning permission to increase the existing hotel from 66 bedrooms to 122 bedrooms. It is well located in a high-profile corner position in the heart of the Temple Bar area, Dublin’s Left Bank, and the city’s entertainment and social focal point. It is also within Dublin’s main business, shopping, and most popular tourist areas which includes Trinity College, City Hall, Christchurch, Guinness Storehouse, GPO, St. Stephens Green, and Grafton Street. All of Dublin’s major venues including Convention Centre Dublin (CCD), the 3 Arena, the Bord Gais Energy Theatre, National Concert Hall, Croke Park and the Aviva Stadium, are easily accessible from the hotel. The site currently operates from ten interconnecting prominent buildings with frontage to Parliament Street, a major city thoroughfare linking the city centre to the south suburbs, together with frontages to Essex Gate and Upper Exchange Street. John Hughes, director, Hotels and Licensed, CBRE Ireland, who is handling the sale, said: “The sale of the Paramount Hotel offers both Irish and International investors an outstanding opportunity to acquire a prime hotel in a key international capital city. Established hotels in Dublin city centre hotels rarely come to the market and this sale is especially significant as the Paramount Hotel is being offered with the benefit of full planning permission for additional rooms. “The successful purchaser will have the choice to continue trading under the already well established and independent ‘Paramount Hotel’ name or, an international hotel brand, with many of international hotel companies extremely eager to establish a flagship presence and their brand in the Dublin city centre market.”