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CBRE has sold the site of the former Ormond Hotel on Ormond Quay Upper in Dublin 7, transferring ownership from an international investor to an Irish investment company. The deal clears the way for redevelopment of the riverside site into a new hotel destination.
Plans and permission
The property holds full planning permission for a 120-bedroom hotel with food, beverage and meeting facilities. The proposed building would extend across seven floors and about 5,850 square metres (62,970 sq ft).
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“We are thrilled to announce the successful sale of the Ormond Hotel site, a pivotal step that opens up exciting new possibilities for this iconic location,” said Alexandra Sheeran, director of CBRE Hotels Ireland.
“This transaction marks a significant milestone, and we look forward to seeing the positive impact the new hotel will bring to this prominent riverside site and the future development of the area.”
Market context
CBRE says the project is well placed to benefit from Dublin’s current hotel dynamics, particularly demand in the upper upscale segment. The firm pointed to supply-and-demand conditions in the city as supportive for new, higher-end accommodation.
Location and local regeneration
Sited on the banks of the River Liffey, the development is within walking distance of Dublin’s main tourist draws and has convenient access to the Luas, which links to the Dublin Docklands and a cluster of multinational employers.
The neighbourhood is being reshaped by several initiatives. Nearby Capel Street is undergoing pedestrianisation, and plans are in place to refurbish the former fruit-and-vegetable market to create what developers have described as Dublin’s ‘Borough Market’.
CBRE framed the sale as a sign of growing investor confidence in Dublin’s hotel market and the city’s continued attraction for development capital.
