Pery’s Hotel at €3.5m offers scope for owner operators and investors

Agent McNally Handy & Partners is guiding a price of €3.5 million for Pery’s Hotel in Limerick city.

Located at the junction of Glentworth Street and Catherine Street and within a short walk of the city’s main thoroughfare O’Connell Street, the property briefly comprises 61 en suite bedrooms, three conference rooms, a bar and restaurant, gym and sauna facilities and 25 underground car parking spaces.

Pery’s Hotel is being sold as a going concern, and with the added benefit of combined annual rental income of €14,878 from two commercial tenants on Catherine Street.

In terms of the hotel’s own revenue streams, there is currently a service agreement in place for the academic year 2019/2020 with an American university on a Discover the World Study Abroad programme which runs from late August to mid-December, and again from early January to mid-May. Full details of this agreement and the income arising from it are available along with hotel’s management and audited accounts in the data room.

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The property is being offered for sale with the benefits of a seven-day publican’s licence, a music and singing licence, and dancing licence.

Pery’s Hotel provides ready access to Limerick city and beyond thanks to its close proximity to bus and train services at Colbert Station, the M7 and wider motorway network, and Shannon International Airport.

Viewing of the property is available strictly by appointment through John McNally and Carley Fahey of the selling agent McNally Handy & Partners.