Major Cork City Hotel Opportunity
Acting on behalf of BAM, CBRE have been instructed to market an outstanding opportunity to acquire a Cork city centre hotel. The hotel will be delivered to a specification pre-agreed between parties.
Highlights
- Strategically located on Sullivan’s Quay, overlooking the River Lee at Grand Parade, in the heart of Cork’s tourist and business district
- Forms part of a mixed-use development designed by Scott Tallon Walker Architects, comprising the Hotel and 8,000 sq.m. Grade A office space
- The hotel has a landmark 12 storey tower with an executive lounge on the top floor
- Situated on the doorstep of the proposed Cork Events Centre with capacity for 6,000
- Facilities include 220 bedrooms, restaurant, bar, meeting/conference space and the option to acquire basement carpark spaces
- Convenient to all transport hubs, including Cork International Airport.
- Cork city has seen exceptionally strong hotel performance in room rate and occupancy
- RevPAR growing an impressive 10.2% CAGR between 2012 and 2017
Cork City is an important economic, tourist and educational centre for the South of Ireland. The city is location for key multinational pharmaceutical and technology companies such as Apple, Dell, Siemens, Amazon, GlaxoSmithKline, Pfizer, IBM, Johnson + Johnson, McAfee, Johnson Control and Dell EMC.
Cork Airport is the second biggest airport by passenger volume in the Republic of Ireland, handling 2.4m passengers in 2018 (+4.3% increase on 2017). Cork is an Ideal geographic location between Ireland’s Ancient East and the Wild Atlantic Way. The South West Region is Irelands most popular tourist area with renowned golfing at nearby Old Head Kinsale and Fota Island.