The Clayton Hotel is located near several global businesses
Ever wanted to own a hotel room? Well now you can, as 24 suites at a central Dublin hotel are up for sale.
The suites at the four-star Clayton Hotel, which opened in 2005, contain 62 bedrooms between them.
They are leased to Hanford Commercial Limited - a subsidiary of Dalata plc.
The hotel is located at the heart of the South Docks and Grand Canal Dock in Dublin 2.
The area is home to many global businesses - including Accenture, AirBnB, Facebook, Google, HSBC and State Street.
It is also located opposite the Bord Gáis Energy Theatre and near the Convention Centre, 3Arena, Aviva Stadium and Croke Park.
At an asking price of €8m - or €129,000 per bedroom - the current annual rent of €467,200 represents a net initial yield of 5.6%.
Selling agent Savills says: "The Dublin Hotel market operated at 82% occupancy in 2015...Combined with very limited new hotel supply expected before 2019, this supports strong profit growth and significant rental growth potential in January 2018".
Tom Barrett, head of hotels and leisure at Savills, added: "This sale offers investors a rare opportunity to acquire a meaningful interest in one of Dublin's most profitable hotels."
"There is significant office development in Dublin Docklands, with a current potential pipeline of over 400,000m2. The Clayton Hotel is located at the epicentre of this development and can be expected to be a long term beneficiary."