O'Connell Street hotel expected to fetch €4m

Lynam's had recently provided emergency housing for families...

O'Connell Street hotel expected to fetch €4m

Protests outside Lynam's Hotel in July. Picture by: Niall Carson / PA Wire/Press Association Images

The former Lynam's Hotel on O'Connell Street in Dublin is up for sale with a guide price in excess of €4 million.

The four-storey building was originally a bank premises, before being redeveloped as a 42-bedroom hotel in 2001.

It went into receivership in September 2015.

The sale does not include the Spar shop at ground level, but does include a ground floor, as well as a self-contained café/restaurant facility.

CBRE Hotels are selling the property on the instruction of Crowe Horwath's Aidan Murphy and are hoping that its strong footfall, proximity to the Spire and GPO, and the planned Luas Cross City extension and redevelopment of the former Clerys department store will make it attractive to potential buyers.

It also hits the market at a time when hotel rooms are in short supply in the capital.

Most recently, the hotel has been used by Dublin City Council to provide emergency accommodation.

Up to 11 families had been put up in the hotel as recently as this summer, with five families ultimately resisting its closure in August, as the Dublin Region Homeless Executive and Dublin City Council attempted to negotiate alternative arrangements for them.

John Hughes of CBRE Hotels said:

"The sale of Lynam's Hotel offers an excellent opportunity to re-establish a thriving, high-occupancy business in one of the best and most central trading locations in Dublin city centre. The sale will generate keen interest from existing hotel operators and investors."