Built eight years ago, the George Boutique Hotel comes for sale publicly this week with a €3 million price guide quoted by joint agents Isobel O’Regan of Savills in Cork, with John Buckley of DTZ in Limerick. Guide price is €3 million.
Opened in 2006, it’s an imposing, tall hotel with rooms over eight floors along O’Connell Street and Shannon Street in the city centre, and operates at a three-star level. It has a 90-seat Italian restaurant, bar/casual dining area, 124 bedrooms, glazed atrium foyer, and four meeting rooms.
The George sale comes as Limerick’s profile is back in the ascendant, with City of Culture status and an increase in visitor numbers.
According to hotel sales specialist Denis O’Donoghue of Savills, “there has been a notable increase of activity in the Limerick hotel market over the past 18 months,” as the 154-bed Radisson Blu on the Ennis Road is now under offer, having guided €4m in September, while the 151-bed Jurys Inn which also went to market last September with CBRE, guiding €3m, has sold for a reported c€2.25m.
Nearby amenities and attraction to the George Boutique Hotel include the Milk Market, the Hunt Museum, Limerick City Art Gallery and, out the way, Thomond Park.
Savills’ Ms O’Regan and DTZ’s John Buckley say the George’s condition is excellent, as is the location and they add “it is trading profitably, and is well-positioned to capitalise on the strong recovery being experienced in the Limerick hotel sector at present.”
Details: Savills, 021-4271371; DTZ Limerick, 061-418111.