An operator is being sought for one the new generation of hotels in Dublin city centre. Lisney is expecting strong interest in the Hotel Abbey, a 21-bedroom hotel which has been open for business for the past three years.

The hotel is currently leased at £280,000 per annum. The lease allows the operator to acquire a freehold interest in the building in seven years. Ross Shorten of Lisney says those interested will have an option of bidding either for the lease or for the lease and the buyback option.

As the hotel is located in one of the original Section 23 tax designated areas, there are double rent reliefs in place, as well a remission of rates for the first 10 years. The hotel was developed to a high standard by businessman William McCaffrey and includes an extensive bar and restaurant, as well as a night club. All of the bedrooms come with en suite bathrooms and are either doubles or trebles, and can accommodate up to 50 people. The sale will include all furniture and fittings. Lisney says the business has a "very strong turnover" but could be increased further. Tenders close on March 24th.

Meanwhile, Mason Estates is quoting a guideline price of £1.5 million for the Vale View Hotel at Kilocashel, Avoca, Co Wiklow, which goes to auction on March 9th. The family run hotel is located in a scenic area overlooking the famous Vale of Avoca. The hotel stands on 10 acres and there is full planning permission to build 15 townhouses for hotel use. The site could easily accommodate a further 35 units.

The hotel is based in a house which dates from 1825. It has been expertly restored and tastefully extended over the years to provide a high standard of accommodation. The business had a turnover of over £500,000 last year and could do considerably better when the townhouses are built.