Cork city's Maldron Hotel – leased to hotel operator Dalata until 2030 – is on the market through DTZ Sherry FitzGerald at €6 million. It is being sold on behalf of receiver Aiden Murphy of Crowe Horwath.
The three-star hotel has 101 bedrooms and a leisure centre with a 20m swimming pool.
It is undergoing a €2 million revamp by Dalata, who pays rent of €400,000, plus a percentage of turnover – this came to €534,817 in 2015.
The lease is subject to five-yearly upwards-only rent reviews, with the next due in November 2020 linked to the open market rent.
Located close to the city’s Shandon cultural quarter, the hotel has a long established history as it is within the former North Infirmary Hospital which closed in 1987.
After its closure the building was developed as the Shandon Court Hotel by Galway-based developer Tom Coyle, who leased the property to the current occupier Dalata hotel group.
A four-storey extension in 2001 increased the number of bedrooms to 101, with surface car parking to the front.
The Maldron is within walking distance of the city centre.
