CBRE Ireland has confirmed the sale of One Westmoreland, Dublin 2, a six-storey building in prime city centre location with full planning permission for a 38-bedroom hotel. The original guide price was €6m and the property was sold to a private buyer.
One Westmoreland is located in the heart of Dublin 2. The property occupies a high-profile location, situated on one of the widest and busiest streets in Dublin city centre. Westmoreland Street is a central point for public transport links in the city.
The proposed hotel forms part of Temple Bar which is one of the most historic areas of central Dublin and has been designated and promoted as the city’s artistic and cultural quarter since 1991. Temple Bar is one of Dublin’s most established, cosmopolitan entertainment quarters with proximity to Grafton Street and Henry Street, Dublin’s primary shopping high streets.
Temple Bar is in the centre of Dublin’s cultural world with street musicians, weekly markets, art exhibitions and movie screenings alongside other entertainment events, creating a busy and vibrant city neighborhood. It has a variety of retail, café, restaurant, and cultural offerings.
The immediate area is set to benefit from the future pedestrianisation of College Green, which is planned from the gates of Trinity College Dublin to the junction of Dame Street and South Great Georges Street.
The hotel is well served by many public transport modes including Luas Green Line, travelling northbound, it passes immediately in front of One Westmoreland along O’Connell Street and the north suburbs of the city. The closest station travelling southbound is less than two minutes’ walk and accesses St Stephens Green, the office heartland of Dublin 2 and into the Dublin south suburbs including the numerous office parks.
Paul Collins, Head of CBRE Hotels Ireland, commented:
“This superb opportunity was sold to a private investor who recognised the great potential that the prime property offers. There was significant interest in One Westmoreland Street due to the ability to create and operate a high-profile hotel in this stunning Temple Bar location.”
