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Hotel complex beside sea will drive price over €30m PORTMARNOCK Hotel in Co Dublin - a luxury hotel occupying a magnificent coastal site of just over six acres - is being offered for sale. The hotel has recently been extended and now comprises 138 en suite bedrooms, restaurants, bars and extensive conference banqueting facilities. The freehold is being sold by tender through CB Richard Ellis shortly. Dermot Curtin, director of CBRE's hotels division, says that this is an outstanding opportunity to acquire one of Dublin's best known hotels. The vendors of the hotel are retaining ownership of the golf course. The CBRE hotel expert would not be drawn on a guideline price. But market sources suggest that a top-class hotel property in such a unique location should command a figure in the region of €30m. The Portmarnock Hotel is set in a spectacular seaside location beside the dunes of the Portmarnock peninsula. The hotel is in the centre of a veritable golfing oasis, surrounded as by some of Europe's finest links golf courses including the world famous Old Portmarnock course, where Tiger Woods played his last Walker Cup, and venue for many Irish Open Championships. Other internationally renowned links courses nearby include the newly revamped Royal Dublin, St Annes, Sutton and the Bernhard Langer inspired Portmarnock Links, which is next door to this hotel. The Portmarnock Hotel has been operating successfully as a four-star resort hotel since its launch with 100 bedrooms in 1995. Last September saw the opening of the latest extension to the hotel - 40 individually designed en suite bedrooms - just in time to avail of the huge influx of visitors for the Ryder Cup. "The hotel's location, alongside the safe Blue Flag sandy beaches of Portmarnock offers a serene and tranquil setting for delegates and guests and yet is only a short drive to Dublin city centre, the M50 and Dublin's International Airport," says Mr Curtin. "The DART and mainline railway station of Portmarnock is only a short walk away. "There is full planning permission to completely renovate the existing conference and banqueting area and such improvements will undoubtedly reap huge dividends in the years to come." CBRE is, meantime, also offering the 33-bedroom Earl of Kildare Hotel which occupies a high profile location on the corner of Kildare Street and Nassau Street in Dublin city centre. This property stands on a 650 sq m prime site. It will be sold by tender next month and offers in excess of €17m are expected here. Con Power Irish Independent 28/03/2007
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