Hotel on offer for about €1m

The opportunity to buy a Dublin city centre hotel for less than €1 million will arise shortly when Turley Property Advisers offer for sale the family-run Abbey Hotel on Middle Abbey Street.

Michael Turley is quoting €950,000 for the 21-bedroom hotel which is to be sold on the instructions of Simon Coyle of Mazars who was appointed receiver by the Bank of Ireland.

The hotel is currently achieving occupancy rates of 60 to 70 per cent on weekdays and 90 to 100 per cent at weekends. It has a restaurant, bar and night club at ground floor level.

The hotel operator’s web page warns customers that “the hotel has a late bar which may result in some noise late into the night”.

Room rates this week are highly competitive at €49 to €65 for a single and €52 to €75 for a double.