The Gibson Hotel in Dublin has gone on sale with an expected guide price in excess of €87m.
The property located in the Dublin docklands is being advertised as an investment sale, given that Galsay – a subsidiary of the Dalata Hotel group – has a 25-year lease on the hotel running until 2035.
The current passing rent is €4.65m per year, with five yearly upward-only rent reviews.
The 252-bed hotel was built by developer Harry Crosbie and completed in 2010, but is currently in the hands of joint receivers Paul McCann and Stephen Tennant of Grant Thornton.
It is situated next to the Point Village and is close to a number of large office developments, including the new Central Bank building.
Separately, yesterday Dalata said it has received clearance from the Competition and Consumer Protection Commission to acquire the freehold interest of certain elements of both the Clayton Hotel on Cardiff Lane in Dublin 2 and the Clarion Hotel in Liffey Valley, Dublin 22.
The acquisition is expected to close over the coming weeks.
