The Clarion Hotel Limerick has been put up for sale by its receiver Kieran Wallace of KPMG with a guide price of over €3.5m. 

Savills, which is handling the deal, said the hotel is being offered for sale by private treaty with the benefit of existing occupational leases. 

The landmark hotel opened in 2002 and is sited on the the banks of the River Shannon in Limerick city.

It has 158 air conditioned bedrooms arranged over 17 floors, including three penthouse suites with views over the river Shannon.

The hotel also includes a bar, a restaurant, extensive conference and banqueting facilities as well as a health and fitness club. 
 
Savills noted that the Limerick hotel market is seeing strong growth in occupancy and average room rates, with both experiencing double digit growth in the year to date. 

The Clarion Hotel Limerick has a current rental income of €200,000 a year  and the sale is subject to three existing occupational leases with Merzolt Limited. The tenant will be unaffected by the sale.