Dublin’s Paramount Hotel on market for €20m

Dublin's Paramount Hotel on the market for €20m

Paramount Hotel

UK: The Paramount Hotel, located in the Temple Bar area of Dublin, is on the market through CBRE for offers exceeding €20 million.

The Paramount Hotel has full planning permission to increase its room count from 66 bedrooms to 122. There is also the opportunity for repositioning.

It currently operates from ten interconnecting buildings on Parliament Street, a major city passage connecting the city centre to the south suburbs, and offers frontages to Essex Gate and Upper Exchange Street. The hotel is well known for its Turks Head Bar.

Major venues in Dublin can easily be accessed from the hotel, such as the Convention Centre Dublin (CCD), the 3 Arena, National Concert Hall, the Bord Gais Energy Theatre, Croke Park and the Aviva Stadium. Tourist sites such as Trinity College, Christchurch, Guinness Storehouse and more, are also close by.

John Hughes, director of hotels and licensed at CBRE Ireland, said: “The sale of the Paramount Hotel offers both Irish and international investors an outstanding opportunity to acquire a prime hotel in a key international capital city. Established hotels in Dublin city centre hotels rarely come to the market and this sale is especially significant as the Paramount Hotel is being offered with the benefit of full planning permission for additional rooms.

“The successful purchaser will have the choice to continue trading under the already well established and independent ‘Paramount Hotel’ name or, an international hotel brand, with many of international hotel companies extremely eager to establish a flagship presence and their brand in the Dublin city centre market.”

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