A PARTIALLY built hotel opposite the Four Seasons in Ballsbridge, Dublin 4, is to be offered for sale after being put into receivership by the former Irish Nationwide Building Society.
John Swarbrigg of Savills is quoting in excess of €1.75 million for the Merrion Road property which is being sold on the instructions of Paul McCann of Grant Thornton.
The hotel promoter originally assembled two adjoining blocks, each with two semi-detached houses, and secured planning permission to redevelop them into a 56-bedroom hotel.
There is also permission for a spa at basement level.
The redevelopment of the first phase incorporating 54 and 56 Merrion Road has been completed and has been trading up to recently.
It has 31 bedrooms – four more than the planning permission allows – on the upper floors along with an eight-person lift, a large dining area and two reception rooms at the ground floor level. Numbers 50 and 52 Merrion Road were planned as an extension to the existing accommodation and though laid out as 29 bedrooms, four of these are no longer permitted under the most recent planning decision.
Most of the second phase is now ready for fit-out with the exception of the basement area which is in a shell and core condition.
A glazed front and rear wall have also to be put in place to join up the two blocks.
The remaining work is expected to cost up to €2 million to complete and when this has been done the overall facility will extend to 3,819sq m (41,111sq ft).
It stands on a site of 0.55 of an acre with frontage on to Sydenham Road as well as Merrion Road.
Swarbrigg said the prime location would obviously appeal to hoteliers and investors though it would be no surprise if a buyer emerged with an alternative use in mind.
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