Hotel suites make over €1m

A private investor has paid over €1 million for five suites at the Maldron Hotel Cardiff Lane on Sir John Rogerson's Quay in the south Dublin docklands.

Denis O’Donoghue of Savills had been seeking in excess of €850,000 for the suites which are let to the four-star hotel on 26-year leases with 26 years to run. The rent roll of €104,500 will give the purchaser an initial return of 10 per cent.