This site uses cookies to improve your experience and to provide services and advertising. By continuing to browse, you agree to the use of cookies described in our Cookies Policy. You may change your settings at any time but this may impact on the functionality of the site. To learn more see our Cookies Policy.
Dublin: 6 °C Monday 16 December, 2019

Photos: This Cork hotel is on the market for €30 million

The Clarion Hotel opened in Cork 10 years ago.

THE FOUR-STAR Clarion Hotel in Cork is going on the market today for more than €30 million.

The 191-bedroom hotel which opened in 2005 has a waterfront position within the City Quarter development on Lapps Quay.

unnamed Source: Tony Healy

The hotel is being offered for sale subject to existing occupational leases with Merzolt Limited, with approximately 25 years remaining.

At €30m, the current annual rent of €2.4m represents a net initial yield of 7.66%.

unnamed (1)

The hotel is being sold through joint agents JLL and Savills, Savills stated that:

“The sale comes as recent reviews show that the Cork hotel market has recorded five consecutive years of growth and is outperforming UK cities such as Birmingham, Bristol, Cardiff and Glasgow.”

unnamed (2)

Dan O’Connor, Vice President, JLL Hotels & Hospitality Group said:

The Clarion Hotel Cork is the largest and arguably the best hotel in Cork City.

“It offers a strong existing leased income stream with bright prospects for future rental growth buoyed by a robust Cork hotel trading market and positive developments within Cork City, including the announcement that Cork’s first Convention Centre will be constructed nearby.”

Read:  Why settle for just a house? This entire village in Kildare is for sale>

  • Share on Facebook
  • Email this article

About the author:

Read next:


This is YOUR comments community. Stay civil, stay constructive, stay on topic. Please familiarise yourself with our comments policy here before taking part.
write a comment

    Leave a commentcancel