151-bedroom Premier Inn at Newmarket Yards is due for completion in 2023 via IrishTimesBiz
The new Premier Inn at Newmarket Yards in Dublin 8 will comprise 151 bedrooms upon completion in 2023German investor Deka Immobilien Investment has returned to the acquisition trail in Dublin with a deal for a new hotel in the city’s historic Liberties area. While the price being paid for the hotel at Newmarket Yards has not been disclosed, The Irish Times understands Deka has agreed to pay about €36 million on a forward-commitment basis to secure ownership of the property.
Upon completion in 2023, the new hotel will comprise 151 bedrooms along with three retail units. The hotel, which has been pre-let on a long-term lease to Premier Inn, forms part of the wider Newmarket Yards mixed-use scheme. The development will also include 413 apartments along with associated amenities and a landscaped public area, and is targeting an overall BER rating of A3, a “very good” BREEAM rating and nearly zero energy building accreditation.
Newmarket Yards is being delivered by Carey Issuer, a company owned by Bain Capital, with the development managed by Carrowmore Property and a project team led by BAM Ireland as main contractor. Dan O’Connor of JLL brokered the sale of the new hotel on behalf of Bain while George Stratton of Savills represented Deka on the acquisition.
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