Four-star Dublin hotel on the market for almost €90m

The Gibson Hotel is located opposite the 3 Arena

Four-star Dublin hotel on the market for almost €90m

The Gibson Hotel in Dublin's Docklands | Image: Savills

A hotel in the Dublin Docklands has gone on the market with a price tag of over €87m.

The four-star Gibson Hotel has 252 bedrooms, including 20 suites.

It is being put up for sale by real estate agents Savills, on the instruction of joint receivers Paul McCann and Stephen Tennant.

They were appointed by NAMA, who took control of the property in 2013.

Named after the famous Gibson guitar, the hotel was designed by architects Scott Tallon Walker, and completed in 2010.

It also features public spaces including a 120 cover restaurant, two bars, spa facilities and a gym.

Image: Savills

The hotel’s conference and banqueting facilities consist of nine rooms over two floors, capable of accommodating up to 300 delegates.

It also benefits from an 800 space basement carpark.

The hotel is also where the popular reality TV show 'First Dates Ireland' is filmed.

Image: Savills

The property is fully let to Galsay Limited, a subsidiary of Dalata plc, under a 25 year lease from June 28th 2010.

The current rent is €4.65m and is subject to five yearly upward-only rent reviews.

Located on the North Docklands in Dublin’s Central Business District (CBD), the Gibson is in area known as Point Square - opposite the 3 Arena.

Other neighbours include major global businesses such as Accenture, AirBnB, Facebook, Google and Citibank.

Fergus O’Farrell is director of investments at Savills: "The Gibson offers investors the opportunity to acquire a rare hotel investment of scale with long term secure income in a prime location.

"It will attract interest from a wide spectrum of investors looking for secure cashflow and the opportunity to benefit from the continued performance of the Irish economy, in particular the Irish hotel and tourism industry".