Germany’s Deka set to check in at Gibson Hotel in Dublin
Four-star north docklands hotel was put up for sale in August with a price tag of €87m
Designed by Scott Tallon Walker, the Gibson opened in 2010 and has 252 rooms including 20 suites, a restaurant, bar and extensive conference facilities. It was previously part of the Choice Hotels group.
It is currently let to a subsidiary of the listed Dalata hotel group which acquired its interest in the property last year. According to the sales brochure for the Gibson, the expected rent for 2017 is €4.65. This is made up of the base rent of €2.93 million per annum, plus the variable rent, linked to turnover, forecast to be €1.72 million this year. There is a lease term of 17.8 years
Deka already owns the former Burlington Hotel in Dublin which is operated by Dalata under the Clayton brand on a 25-year contract. The transaction consideration for Dalata from acquiring its operating interest in the Burlington was €2.5 million.
Deka acquired the Burlington in 2016 after it was put up for sale by US investment giant Blackstone for €180 million.
In August, Deka agreed a sale and leaseback deal with Dalata on the Hotel La Tour in Birmingham for £30 million (€33 million).
Dalata will operate the hotel on a new lease for a 35 years. The agreed initial rent for the property was £1.6 million a year, subject to five-yearly reviews, index-linked to the retail price index.
No comment was available from Deka, Dalata, Savills or Grant Thornton. A spokeswoman for Deka said: “We don’t comment on market rumours.”