Hotel group Dalata has acquired the company which owns the former Charlemont Clinic in central Dublin for €11.9m.
It plans to build a new 4-star hotel on the site, Dalata bought DS Charlemont Limited from property developer U+I in a cash deal.
U+I which was formerly known as Development Securities acquired the site for €7.1m in late 2014.
The site is located 1km north of St Stephen’s Green between Charlemont Street and South Richmond Street - it is 100m from the Charlemont Luas stop.
The 0.95 acre site was granted planning permission last month for a 181 bedroom hotel with a cafe/bar, restaurant and business facilities. The permission also allows for the building of three apartments.
Dalata hopes that the Clayton-branded hotel will be finished during the first half of 2018.
It is due to cost in excess of €40m, and will create 100 new jobs once the hotel is up and running.
Dermot Crowley, Dalata's deputy chief executive of business development, commented on the announcement:
"The Charlemont Clinic site is very well located in Dublin 2 and is ideally suited to a Clayton hotel. The Dublin hotel market is significantly undersupplied at present and we are pleased to bring these additional bedrooms to the city."
