Budget hotel on Gardiner Street with scope for expansion for €9m

A number of prime properties on Gardiner Street Lower, Dublin, have come to market seeking €9 million. The sale includes a budget hotel, My Place; a 10-unit apartment block; and a site with development potential.

No 88-89 Gardiner Street Lower, Dublin 1, is home to My Place, a budget hotel offering guest accommodation in a combination of 35 en-suite rooms and 52 hostel beds.

The sale also includes Mabbot House, on the adjacent Mabbot Lane. This property comprises 10 spacious and modern apartments (three one-bed units; four two-beds; and three two-bed penthouses). Each apartment features a balcony or terrace.

The sale offers development potential, as My Place has planning permission for development at the rear to provide for an additional 33 bedrooms. The development will require demolition of an existing warehouse on Mabbot Lane.

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Heart of Dublin

John Hughes, a director with selling agent CBRE, said: "The sale of this extensive city centre accommodation business with planning granted for further development is likely to appeal to a wide range of potential buyers, including owner operators, investors and developers."

The properties are in a central location at the heart of Dublin, close to the city's main tourist, cultural and entertainment venues, and a walk to attractions including Temple Bar, Trinity College, the Guinness Storehouse, St Stephen's Green, O'Connell Street and Grafton Street.

In 2019 a section of the street, 63-66 Gardiner Street Lower, comprising four adjoining terraced Georgian properties, was sold to an investor. The properties had been on the market for €4.5 million.