With demand for hotel sites in the capital continuing to outstrip supply, both investors and operators in the hospitality sector will likely be interested in the redevelopment opportunity presented by the landmark Shamrock Chambers in Dublin city centre.
Located at the junction of Dame Street and Eustace Street in Temple Bar, the building comes for sale with the benefit of full planning permission for a 39-bedroom hotel. James Meagher and Kieran Bray of agent Knight Frank are guiding a price of €4.5 million (exclusive) for the property.
Shamrock Chambers currently comprises of a five-storey, over basement building of 1,746sq m (18,794sq ft), on a site area of 0.10 acres. Under the terms of its planning permission (planning ref: 3867/17), it will be open to the prospective purchaser to develop, refurbish and extend the existing property to six storeys over basement level, providing for a 39-bedroom hotel with ancillary bar and restaurant facilities.
According to the Dublin City Development Plan 2016-22, the site is zoned Objective Z5 – City Centre. This covers a wide range of alternative uses including offices, residential, student accommodation and retail, subject to the necessary planning permission being obtained.
The Shamrock Chambers site is situated in a highly-accessible location. In terms of public transport, the property is within 400 metres of the Luas Cross City stop at College Green and within close proximity to numerous Dublin Bus and intercity, regional and airport bus services. Access to the Dart and a range of regional rail services are also within easy reach owing to the close proximity of Tara Street station.
The property’s potential as a hotel is further borne out by its location next to a number of Dublin’s most-popular tourist destinations including Temple Bar, Trinity College Dublin, Grafton Street, St Stephen’s Green and Dublin Castle.
The property also sits within 100 metres of the new Central Plaza development on Dame Street. Due for completion by the end of this year, the former headquarter premises of the Central Bank is expected to accommodate more than 1,300 office workers alongside retail, restaurant and café facilities.
