Six-Storey Dublin Hotel Development at One Westmoreland Sold to Private Investor for €5.5M

Dublin’s vibrant city center has recently seen a landmark real estate deal with the sale of a six-story building at One Westmoreland,Dublin 2. This prime property, which comes with full planning permission for a 38-bedroom hotel, was snapped up by a private buyer through CBRE Ireland. While the exact sale price remains undisclosed, industry insiders estimate it to be around €5.5 million, slightly below the initial €6 million guide price set in 2022.

Over the past three years, the property has drawn significant attention from various investors, with several entering advanced negotiations. Though, the complexities of the progress agreement made finalizing the deal a challenging process. Located on one of Dublin’s busiest streets, the building stands opposite the luxurious five-star college green Hotel, adding to its appeal.

Paul Collins, head of CBRE Hotels Ireland, commented on the sale, stating, “This superb opportunity was sold to a private investor who recognized the immense potential of this prime property. There was significant interest in One Westmoreland Street due to the ability to create and operate a high-profile hotel in this stunning Temple Bar location.”

The proposed hotel is set to become a standout addition to the lively Temple Bar district.plans include a ground-floor reception area and a café with seating for up to 40 guests. Currently,the ground floor is occupied by Fexco,an Irish financial services group operating a currency exchange.

The property’s strategic location is further enhanced by its proximity to the iconic bank of Ireland College Green branch and excellent public transport links. The Luas Green Line, which runs northbound along O’Connell Street and into the city’s northern suburbs, passes directly in front of the building, ensuring easy accessibility for visitors and locals alike.

Adding to the area’s charm is the planned pedestrianization of College Green, stretching from Trinity College Dublin’s gates to the junction of Dame Street and South Grate Georges Street. This initiative is expected to boost foot traffic and create a more pedestrian-friendly habitat, benefiting businesses and residents in the vicinity.

For investors and developers, One Westmoreland represents a rare opportunity to capitalize on Dublin’s thriving hospitality sector. With its prime location, robust transport connections, and upcoming urban enhancements, the property is poised to become a cornerstone of the city’s dynamic landscape.

what is the meaning of the sale of One Westmoreland in relation to Dublin’s hospitality sector?

• 1. Exclusive Interview: Insights on Dublin’s One Westmoreland Hotel Advancement
• 2. Introducing Our Guest
• 3. The Transaction at One Westmoreland
• 4. Challenges and Opportunities
• 5. The Future of the Property
• 6. Thought-Provoking Question
• 7. Closing Remarks

Exclusive Interview: Insights on Dublin’s One Westmoreland Hotel Advancement

Introducing Our Alex Reed

Today,we’re joined by Emma Donovan,a seasoned real estate consultant with over 15 years of experience in Dublin’s property market. Emma has been instrumental in numerous high-profile transactions across the city and brings a wealth of knowledge to our discussion about the recent sale of One Westmoreland, Dublin 2. Welcome, Emma!

The Transaction at One Westmoreland

Q: The sale of One Westmoreland has been a hot topic. can you share your thoughts on the transaction and its importance?

Absolutely. The sale of One Westmoreland is a landmark deal for Dublin’s real estate market. At approximately €5.5 million, it’s a strong indicator of investor confidence in the city’s hospitality sector. The property’s prime location in Temple Bar, combined with full planning permission for a 38-bedroom hotel, makes it a highly attractive asset. Despite the slight dip from the €6 million guide price, it’s a strategic acquisition for the private buyer.

Challenges and Opportunities

Q: The sale reportedly faced challenges. What were the key hurdles, and why did it attract such interest?

One of the main challenges was the complexity of the advancement agreement, which prolonged negotiations. However, the property’s location opposite the five-star College green Hotel and its proximity to key landmarks like Trinity College Dublin made it a compelling opportunity. Its accessibility, with the Luas Green Line passing directly in front, was a major draw for investors.

The future of the Property

Q: What can we expect from the proposed hotel development?

The hotel is set to be a standout addition to Temple Bar. Plans include a 38-bedroom hotel with modern amenities,designed to cater to both business and leisure travelers. Its strategic location and accessibility are expected to make it a popular choice for visitors, further boosting Dublin’s hospitality sector.

Thought-Provoking Question

Q: What dose this transaction tell us about the future of Dublin’s real estate market?

This transaction underscores the resilience and attractiveness of Dublin’s real estate market, especially in the hospitality sector. Despite challenges, the city continues to draw significant investment, driven by its prime locations and strong economic fundamentals.

Closing Remarks

Thank you, Emma, for sharing your insights on this significant transaction. The sale of One Westmoreland is indeed a testament to the vibrancy and potential of Dublin’s real estate market. We look forward to seeing how this development shapes the future of Temple Bar and the city’s hospitality landscape.

Dublin’s Hospitality Sector: A Prime Investment Opportunity

Dublin’s hospitality sector is undergoing a remarkable transformation, driven by strategic urban developments and a surge in tourism. One standout example is the One Westmoreland project, a prime property located near Bank of Ireland’s College Green branch. This development is set to become a vibrant hub for both locals and visitors, thanks to its ground-floor reception area and a café that can accommodate up to 40 guests.

The planned pedestrianisation of College Green further enhances the appeal of this location, making it a focal point for future growth. As Dublin continues to evolve,properties like One Westmoreland,which combine prime locations with long-term potential,are becoming increasingly rare and valuable.

Thought-Provoking Question

Q: With Dublin’s hospitality sector thriving, what advice would you give to investors looking to capitalize on similar opportunities?

Investors should focus on areas with strong transport links and ongoing urban enhancements. Dublin’s pedestrianisation initiatives are reshaping the cityscape, creating new opportunities for growth. Properties that blend prime locations with long-term potential, like One Westmoreland, are worth the investment.We’d love to hear your thoughts on the future of Dublin’s hospitality sector—what do you think makes a location truly stand out?

Closing Remarks

Thank you, Emma, for sharing your expert insights on this significant transaction. The development at One Westmoreland is undoubtedly a project to watch as Dublin continues to evolve. Stay tuned for more updates on Dublin’s dynamic property market!

What factors contributed to the sale of One Westmoreland despite facing challenges?

Exclusive Interview: Insights on dublin’s One Westmoreland Hotel Advancement

Introducing Our Alex Reed

Today, we’re joined by Emma Donovan, a seasoned real estate consultant with over 15 years of experience in Dublin’s property market. Emma has been instrumental in numerous high-profile transactions across the city and brings a wealth of knowledge to our discussion about the recent sale of One westmoreland, dublin 2. Welcome, Emma!

The Transaction at One Westmoreland

Q: The sale of One Westmoreland has been a hot topic.Can you share your thoughts on the transaction and its importance?

Emma Donovan: Absolutely. The sale of One Westmoreland is a landmark deal for Dublin’s real estate market. At approximately €5.5 million, it’s a strong indicator of investor confidence in the city’s hospitality sector. The property’s prime location in Temple bar, combined with full planning permission for a 38-bedroom hotel, makes it a highly attractive asset. Despite the slight dip from the €6 million guide price, it’s a strategic acquisition for the private buyer.

Challenges and Opportunities

Q: The sale reportedly faced challenges. What were the key hurdles, and why did it attract such interest?

Emma Donovan: One of the main challenges was the complexity of the advancement agreement, which prolonged negotiations. Though,the property’s location opposite the five-star College Green Hotel and its proximity to key landmarks like trinity College dublin made it a compelling opportunity. Its accessibility, with the Luas Green Line passing directly in front, was a major draw for investors.

The Future of the Property

Q: What can we expect from the proposed hotel advancement?

emma Donovan: The hotel is set to be a standout addition to Temple Bar. Plans include a 38-bedroom hotel with modern amenities, designed to cater to both business and leisure travelers. Its strategic location and accessibility are expected to make it a popular choice for visitors, further boosting Dublin’s hospitality sector.

Thought-Provoking Question

Q: What does this transaction tell us about the future of Dublin’s real estate market?

emma Donovan: This transaction underscores the resilience and attractiveness of Dublin’s real estate market, especially in the hospitality sector. Despite the complexities and challenges faced during the sale, the fact that it concluded with important interest from investors highlights the city’s enduring appeal. Dublin’s growing reputation as a global hub for business and tourism continues to drive demand for prime properties.The planned pedestrianization of College green and the city’s robust public transport network further enhance its attractiveness. This deal signals a positive outlook for future investments in Dublin’s real estate, particularly in high-profile, strategically located developments.

Closing Remarks

Emma Donovan: the sale of One Westmoreland is a testament to Dublin’s vibrant and dynamic real estate market. It reflects the city’s ability to attract substantial investments, even in challenging times, and sets a precedent for future developments. As Dublin continues to grow and evolve, opportunities like this will play a crucial role in shaping its urban landscape and enhancing its status as a premier destination for both business and leisure.

Thank you, Emma, for sharing your insights. We look forward to seeing how this development unfolds and the impact it will have on Dublin’s hospitality sector.

Emma Donovan: Thank you.It’s been a pleasure discussing this exciting development.