JLL Sale Announcement – Temple Bar Lane, Dublin
First major hotel sale in Temple Bar since 2018
On behalf of MM Capital, JLL is delighted to announce the successful disposal of the recently refurbished and repositioned, Temple Bar Lane.
The property has been sold to a private investor for sum in the region of the €11 million guide price.
This prime leisure property is situated in Dublin City’s best trading location, Temple Bar, which experiences extremely high bed night demand all year round.
The property has a long-established trading history, having originally opened as the 171 bed Barnacles Hostel in 1997. The property also boasts development potential within its existing envelope, with potential to swiftly add an additional 8 guestrooms internally.
“The deal marks the first major hotel sale in Temple Bar since 2018. Hotels in Temple Bar are rare, with less than 1,000 keys in the district. Hostels are even rarer, with just 118 rooms/dormitories located in Temple Bar. As a result, the sales process attracted significant domestic and international interest and we are delighted to ultimately conclude a sale to an Irish buyer”.
“We would like to thank Dan and the JLL team on another fantastic result and wish the new owner the best with the future operations of the asset. We would also like to thank Sheila O’Riordan and all her team at Hotel Properties on doing a fantastic job in repositioning and operating the asset on our behalf throughout our ownership.”
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.