Marlet Property Purchases premises on Dublin’s Abbey Street for €20 million

Date: January 2018

Location: Abbey Street, Dublin, Ireland

Name: 220 bed Hotel & 300 bed aparthotel

Pat Crean, CEO Marlet Properties

No of Keys: 520

Seller: O’Dwyer Brothers site on Upper Abbey Street

Buyer: The Marlet Property Group, owned by Dublin-based property developer Pat Crean, with backing from M&G, who have assembled a large portfolio of development sites (commercial, residential rather than hotel)  in the Irish capital.

Planning consent still required.

Price: €20m land; €90m construction

Price per Key: €211,538