Deka Immobilien has purchased the Ruby Molly Hotel in Dublin for approximately €86m. Creekvale Ltd. sold the property. The hotel will be added to the portfolio of the open-ended real estate fund Deka-ImmobilienEuropa.
The new building, completed in 2024, comprises a high-quality hotel that is fully and long-term leased to Ruby Hospitality Ireland Ltd., as well as a restaurant area on the ground floor. With a gross floor area of around 9,800m2, the 4-star hotel features 272 rooms equipped according to the "Lean Luxury" design and strategy concept. The renowned hotel operator Ruby Hotels GmbH, based in Munich, is making its market entry into Ireland with this investment.
The hotel is located in the heart of the city centre, north of Dublin's historic core, and has good access to Dublin's LUAS public transport system. Certification of the property with the sustainability building seal BREEAM with "Very Good" is being sought. The criteria of a Nearly Zero Energy Building (NZEB) are met.
With the acquisition of this core property, Deka-ImmobilienEuropa is strategically expanding its hotel share and taking advantage of an acquisition opportunity in one of Europe's most attractive hotel markets. At the same time, the fund management secures a high-quality, certified new building in a central location.
Image Source - Deka Immobilien.
Europe Real Estate — an overview of real estate developments in European countries.
