Hotel operators and investors looking for an opportunity in what is arguably Dublin’s foremost location will be interested in the much-anticipated sale of Buswells Hotel.
Located immediately across from the gates of Leinster House and within a short walk of the respective offices of several large-scale corporate occupiers including AIB, Barclays, Goshawk, Davy and Maples Group, Buswells occupies a special place in Ireland’s history and its public life.
Quite apart from its popularity with both Irish and international visitors, the hotel has, by virtue of its position in the heart of the city’s political beltway, served for decades as a meeting point for politicians, journalists, lobbyists and all manner of actual and aspiring movers and shakers. The hotel that once formed part of Sean Quinn’s business empire is being offered to the market by agent Savills on behalf of the liquidators of the IBRC, Kieran Wallace and Eamonn Richardson of KPMG. at a guide price of €22 million.
Opportunity
The 67-bedroom hotel comes for sale free from both its management agreement and brand, giving the prospective purchaser the opportunity to invest, reposition and extend the property (subject to planning permission). While Buswells already offers extensive food and beverage, conference and meeting facilities, there is scope to develop these further along with the hotel’s accommodation. While the hotel has the benefit of a prime location in the city, it is also well connected by public transport with the Dawson Street Luas green line stop and Pearse Street Dart station situated within a three- and 10-minute walk respectively.
Tom Barrett, head of Savills’ hotels and leisure division, says: “Buswells is in the best Dublin location. Prime, but discreet and at the centre of everything an upscale hotel guest requires. Recent STR hotel data for Dublin shows strong trade, with July occupancy of 86 per cent at an average daily rate of €188 and revenue per average room 21 per cent above July 2019. This sale presents a very rare opportunity to add value to a trophy Dublin hotel.”
