Deka to acquire new hotel in Dublin from Bain Capital

Deka to acquire new hotel in Dublin from Bain Capital
Image: Courtesy of Savills

German real estate investment firm Deka Immobilien has agreed to acquire on a forward commitment basis a prime hotel and retail asset in the Liberties district of Dublin city centre from Bain Capital for an undisclosed price.

Upon completion in 2023, the property will comprise a high quality 151 key hotel pre-let on a long term lease to Premier Inn, as well as three retail units.

George Stratton, director in the strategic investment advisory team at Savills, comments: “This high quality development will provide the purchaser with long and stable income from a new purpose built hotel in a vibrant and evolving location”.

The scheme is targeting a Building Energy Rating (BER) of ‘A3’, BREEAM ‘Very Good’ rating and Near Zero Energy Building (NZEB) accreditation.

The development is being delivered by Carey Issuer DAC, a company owned by Bain Capital, with the development managed by Carrowmore Property and a high calibre project team including main contractor BAM Ireland.

The property forms part of “Newmarket Yards”, a new landmark mixed-use development which once complete will also provide 413 high quality residential units, associated amenities and extensive landscaped public realm. Newmarket Yards forms a major component of the ongoing transformation of Newmarket, which has evolved rapidly in recent years to become an exciting mixed-use district.

Savills represented Deka on the acquisition whilst JLL represented Bain Capital.