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Ruby Molly Hotel, located in Dublin City Centre, has been sold for €86m (£71.11m) to Deka Immobilien by ESR Europe, the European platform of ESR Group.
The Ruby Molly asset was owned through ESR Europe Active Real Estate Fund IV, a discretionary value-add fund series targeting Western Europe that utilises a thematic, strategy led investment approach.
The sale announcement follows on from ESR Europe’s disposal of an Irish residential development in January 2025 for €159.7m (£132m), also owned under ESR Europe Active Real Estate Fund IV, bringing the total combined realisation in Dublin to €246m (£203.4m) in 2025 so far.
Comprising a 272-key pre-let hotel development, the asset was initiated in Q3 2021 following the exercise of an option to acquire the land. Located on Arran Street East, the property comprises both a hotel and separate ground floor retail unit, situated in Dublin’s historic fruit markets area.
Officially opened in May 2024, the asset was fully pre-let to Ruby Hotels, a Munich-based hotel operator, on a 25-year term. Among other attributes, the hotel benefits from the latest sustainability and NZEB credentials.
Alex Ray, managing director at ESR Europe, said: “We are delighted to announce the successful sale of Ruby Molly, a landmark development project that our team has been involved with from the original site acquisition right through the planning and construction phases.
“This particular asset development and management project highlights our expertise in complex and large-scale development projects and showcases our ability to maximize value and deliver strong, risk-adjusted returns to investors.”
