Ballsbridge Hotel to stay open longer than expected after lease extension
Development of former Jurys site has already sold €100m worth of apartments
The Ballsbridge Hotel in Dublin. Photograph: Dara Mac Dónaill
The Ballsbridge Hotel on the former Jurys Hotel site in Dublin 4 will stay open until at least the end of October 2018 following an extension of its lease with hotel group Dalata. The hotel has the option, at the the discretion of the company due to build apartments on the site, to extend further until the end of March 2019.
The extension of the lease, which was due to end in mid-2018, comes despite the development of luxury apartments on the site being on schedule.
The news comes after Chartered Land, the company behind the Lansdowne Place development, said pre-sales had passed the €100 million mark.
The volume of sales puts prices per square foot at more than €1,000, a “new record” for the Dublin property market, according to Chartered Land.
The site is located on the corner of Lansdowne Road and Shelbourne Road.
Prices for the first building to go on the market, the Templeton, ranged from between €825,000 and €2.1 million for one-, two- and three-bedroom apartments. Penthouses started from €2.15 million. It is understood that that building, and the Blake building launched in September, are now “substantially sold out”.
Larger two-bedroom apartments in the third building on the market, the Barrington, are sold out, but a variety of one-bedroom apartments starting at €825,000 and two-bedroom apartments starting from €900,000 remain available.
Andrew Gunne, the chief executive of Chartered Land, said the company was “delighted” with sales achieved for the development.
“Purchasers have been attracted by the unique location and the quality of the apartments, which are unrivalled in Ireland and compete with the very best of international standards,” he said.
When completed by the end of 2019, the development will have 217 apartments, including 24 penthouses.