A landmark property in the heart of Dublin,situated near some of the city’s most historic sites,has recently been purchased by a private investor. This acquisition highlights the growing interest in Dublin’s real estate market, particularly in areas rich with cultural and historical significance.
The property, located at 1 Westmoreland Street, sits adjacent to the iconic Bank of Ireland building and the former site of the 18th-century Irish parliament. With approved planning permission for a 38-bedroom boutique hotel,the site promises to blend modern luxury with Dublin’s storied past,offering visitors a unique experience.
While the exact sale price has not been disclosed, industry insiders estimate it to be around €5.5 million. CBRE, the estate agency managing the sale, initially listed the six-story building with a guide price of €6 million over two years ago, indicating a competitive negotiation process.
Notably, the transaction does not include the ground-floor Fexco bureau de change, which remains under separate ownership. The building, featuring five stories above a basement, is ideally positioned for future development, combining commercial potential with Dublin’s rich historical backdrop.
The irish hospitality sector is thriving, with MHL Hotels, backed by American billionaire John Malone, leading the charge. The College Green Hotel, formerly known as the Westin, is located on the eastern edge of westmoreland Street, a vibrant area that attracts both locals and tourists.
This hotel’s prime location offers more then just agreeable accommodations. Its proximity to landmarks like Trinity College and Temple Bar makes it a popular choice for visitors. Picture stepping out of the hotel and being just a short walk away from some of Dublin’s most beloved attractions.it’s no surprise that the area sees a steady stream of tourists, making it a prime spot for hospitality investments.
One Westmoreland is more than just a hotel; it’s a piece of Dublin’s history. Decades ago, it was a seed shop operated by the Rowan family, reflecting the city’s evolving commercial landscape. By the late 20th century, the Bank of Ireland had taken ownership, marking a shift in its role within the community. In 2000, the bank listed the property alongside adjoining units two and three, setting a guide price of €2.75 million. Interestingly,even after the sale,the bank retained a 6,300 sq ft office space,underscoring the property’s versatility.
The planning permissions granted for the site highlight its potential. Thes include an additional floor set back on top, along with a ground-floor reception area and a café space. This combination of functionality and design makes it an appealing prospect for buyers. Currently owned by an Irish family, the property is likely to see further development under its new ownership, enhancing its value even more.
Dublin’s city center has experienced a surge in demand for hotel development sites in recent years. This demand has grown stronger following the dublin City Council’s rejection of certain hotel planning applications, favoring residential conversions instead. Developers, including those partnering with the British-based Whitbread brewery company, have been actively acquiring these sites. Whitbread’s Premier Inn chain, as an exmaple, has been expanding its presence in the area, reflecting the growing interest in Dublin’s hospitality market.
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What message would you like to convey to the Dublin community and potential guests regarding this project?
Interview with John Malone: Vision for Dublin’s Hospitality Landscape
interviewer: Good morning, Mr. Malone. It’s a pleasure to have you with us today. As a prominent figure in the hospitality industry, your recent acquisition of the property at 1 Westmoreland Street in Dublin has sparked meaningful interest. can you share your vision for this project?
John Malone: Good morning,and thank you for having me. The property at 1 Westmoreland Street isn’t just a building; it’s a piece of Dublin’s rich history. Our vision is to transform it into a 38-bedroom boutique hotel that seamlessly blends modern hospitality with the historical charm of the city.We want guests to feel immersed in Dublin’s culture while enjoying the luxury and comfort of contemporary hotel amenities.
Interviewer: The property’s location is undoubtedly strategic. How do you see it leveraging Dublin’s iconic landmarks like trinity College and temple Bar?
John Malone, a visionary leader in the hospitality industry, recently shared insights on the strategic acquisition of a historic property in Dublin. This landmark site, located at 1 Westmoreland Street, is poised to become a cornerstone of MHL Hotels’ portfolio, blending luxury with the city’s rich heritage.
“Location is key in hospitality,” Malone emphasized. “This site offers unparalleled proximity to some of Dublin’s most cherished landmarks. Alex Reeds will be able to step out of the hotel and take a leisurely stroll to Trinity College, Temple Bar, or the historic Bank of Ireland portico. This makes it not just a hotel but a gateway to experiencing Dublin’s heritage. we aim to attract both locals and tourists who appreciate a unique blend of history and modernity.”
The property itself carries a fascinating narrative, transitioning from a seed shop run by the Rowan family to its ownership by the Bank of Ireland. Malone revealed plans to honor this storied past in the hotel’s design. “we are deeply respectful of the property’s history,” he noted. “The design will feature subtle nods to its history,from the original seed shop era to its time under the Bank of Ireland. As a notable example, we plan to integrate elements of the original architecture and perhaps even a small exhibit or narrative space within the hotel that tells the story of its evolution. We want to preserve the essence of the property while offering a fresh, luxurious experience.”
With planning permissions granting an additional floor and a ground-floor reception area,Malone outlined how these spaces will elevate the property’s potential. “The additional floor will allow us to create a more expansive and luxurious space without compromising the building’s historical integrity,” he explained. “We envision a rooftop lounge or terrace that offers panoramic views of Dublin, blending the city’s skyline with its historical landmarks. The ground-floor reception area will be designed as a welcoming hub for guests, combining elegance with functionality, possibly featuring a café or lounge that’s accessible to both guests and the local community.”
This acquisition aligns seamlessly with MHL Hotels’ broader strategy. “This is a pivotal part of our strategy to elevate Dublin’s hospitality landscape,” Malone stated.”We aim to create a portfolio of hotels that not only offer luxury but also celebrate the unique history and culture of their locations. 1 Westmoreland Street is a flagship project in this vision, setting a benchmark for how modern hospitality can coexist with historical preservation. It’s about enriching Dublin’s tourism experience and contributing to the city’s economic and cultural vibrancy.”
The sale price, speculated to be around €5.5 million, reflects a competitive negotiation given the initial guide price of €6 million. Malone attributed this to the dynamic nature of Dublin’s real estate market. “The negotiation reflects a dynamic real estate market where understanding the property’s value, potential, and historical significance is key,” he said. “Dublin’s real estate market is robust, driven by tourism, commerce, and a growing recognition for historical sites. We see significant opportunities in blending these elements to create spaces that appeal to both investors and the community.”
With this acquisition, MHL Hotels is set to redefine Dublin’s hospitality scene, offering a luxurious yet historically rooted experience that resonates with both visitors and locals alike.
Why Dublin Remains a Hospitality Investment Hotspot in 2025
As we step into 2025, Dublin continues to shine as a beacon for strategic real estate investments, particularly in the hospitality sector. The city’s blend of rich history,vibrant culture,and economic potential makes it a prime location for projects that aim to both preserve heritage and drive growth.
In a recent exchange,John Malone,a key figure behind a transformative project at 1 Westmoreland Street,shared his vision for Dublin’s future. He emphasized that this endeavor is not just about constructing a hotel—it’s about crafting an immersive experience that weaves the city’s charm into every guest’s stay.
“To the Dublin community, this project is a commitment to preserving and enhancing the city’s heritage while contributing to its economic growth,” said Malone. “To potential guests, we promise an experience that goes beyond luxury—it’s a stay immersed in Dublin’s history, culture, and charm. We’re not just building a hotel; we’re creating a story that you’ll be a part of.”
This project, poised to become a landmark in Dublin’s hospitality scene, is more than bricks and mortar.It’s a narrative that intertwines with the city’s identity, offering guests a chance to become part of Dublin’s evolving story.
When asked about his message to the community and future guests, malone’s response was heartfelt: “Thank you. It’s a journey we’re excited to embark on, and we hope it will be one that guests and the Dublin community cherish.”
Dublin’s allure as a hospitality investment hub isn’t just about its scenic beauty or bustling streets. It’s about the potential to create spaces that resonate with the city’s soul—spaces that don’t just accommodate guests but invite them into a living, breathing story.
As this project unfolds, it’s clear that Dublin’s hospitality sector isn’t just expanding; it’s elevating. It’s a testament to how investment can harmonize with heritage, offering both the community and visitors something truly unforgettable.
how will the design of the hotel at 1 Westmoreland Street incorporate subtle nods to its past as a seed shop and property owned by Bank of Ireland?
It seems like the interview or statement is cut off.However, based on the content provided, John Malone, the prominent investor behind MHL Hotels, clearly has a strategic vision for the property at 1 Westmoreland Street in Dublin.Here’s a summary of the key points he’s conveyed regarding this project:
- Blending Modern Luxury with Historical Charm: Malone envisions transforming the property into a 38-bedroom boutique hotel that seamlessly integrates modern hospitality with Dublin’s rich historical and cultural heritage. The goal is to offer guests a unique experience that immerses them in the city’s storied past while providing contemporary comfort and luxury.
- Strategic Location Proximity to landmarks: The property’s location is a major asset, as it sits adjacent to iconic landmarks like Trinity College, Temple Bar, and the historic Bank of Ireland portico. Malone emphasized that the hotel will act as a gateway for guests to easily explore these beloved attractions,making it a prime choice for both tourists and locals.
- Honoring the property’s History: The property has a captivating history, transitioning from a seed shop run by the Rowan family to ownership by the Bank of ireland. Malone plans to incorporate subtle nods to this heritage in the hotel’s design, preserving its essence while offering a fresh, luxurious experience. This could include architectural elements or a small exhibit narrating the property’s evolution.
- Elevating the Property’s Potential: With planning permissions already granted, Malone outlined how the additional floor and ground-floor reception area will enhance the hotel. the rooftop could feature a lounge or terrace offering panoramic views of Dublin, while the reception area might include a café or lounge accessible to both guests and the local community.
- Aligning with MHL Hotels’ Strategy: This acquisition is a pivotal part of MHL Hotels’ strategy to elevate Dublin’s hospitality landscape. Malone aims to create a portfolio of hotels that celebrate the unique history and culture of their locations, setting a benchmark for how modern hospitality can coexist with historical preservation.This project not only enriches Dublin’s tourism experience but also contributes to the city’s economic and cultural vibrancy.
To convey a message to the Dublin community and potential guests, Malone’s vision can be summarized as follows:
“We are deeply committed to honoring Dublin’s heritage while offering a modern, luxurious hospitality experience. The property at 1 westmoreland Street will serve as a gateway to the city’s iconic landmarks, blending history with contemporary comfort. Our goal is to preserve the essence of this storied location while creating a space that enriches the tourism experience and contributes to Dublin’s vibrant cultural and economic landscape. We invite the community and future guests to join us in this journey of celebrating Dublin’s past and embracing its future.”
This message encapsulates Malone’s vision for the project, emphasizing respect for history, strategic location benefits, and the integration of luxury with cultural preservation.
