Hotel operators and investors looking to take advantage of the post-pandemic resurgence in demand for guest accommodation in Dublin city centre will be interested in the sale of One Westmoreland.
Located immediately adjacent to the Bank of Ireland’s landmark College Green branch premises and just across the street from the entrance to Trinity College Dublin, the property comprises a six-storey building with full planning permission for the development of a 38-bedroom boutique hotel. One Westmoreland is being offered to the market by agent CBRE at a guide price of €6 million.
Quite apart from its accommodation, the proposed hotel is set to include a ground-floor reception area and a cafe space with capacity for 40 covers.
One Westmoreland occupies a prime position in the city centre and is within a short walk of both the Grafton Street and Henry Street shopping areas. The property sits at the Westmoreland Street entry point to Temple Bar, one of Dublin’s most popular tourist destinations due to its variety of retail, cafe, pub, restaurant and cultural offerings.
Westmoreland Street and its surrounding area are set to benefit from the future pedestrianisation of College Green, which is planned from the gates of Trinity College Dublin to the junction of Dame Street and South Great George’s Street. This pedestrianisation is set to be completed in 2024.
The proposed hotel will be well served by a range of public transport options including the Luas Green line. The tram’s northbound service passes immediately in front of One Westmoreland, along O’Connell Street and to the northern suburbs. The closest stop travelling southbound, meanwhile, is less than two minutes’ walk and accesses St Stephen’s Green, the traditional office heartland of Dublin 2, and onwards to the city’s southside suburbs.
Alexandra Sheeran of CBRE’s hotel division says: “One Westmoreland offers a superb opportunity for investors to acquire a six-storey building with full planning permission for a 38-bedroom hotel in the heart of Dublin’s famous Temple Bar district.”