Belfast’s Dublin Road investment property, housing the 146-bed ETAP Hotel, has been acquired by Andras House, the city’s largest hotel group, in a deal valued at €8.6m/£7.35m, facilitated by CBRE.
Andras House’s hotel portfolio includes prominent establishments such as Crowne Plaza Belfast, Hampton by Hilton, Ibis Coleraine Riverside, Holiday Inn Belfast City Centre, Ibis Belfast City Centre, and the Marcus Hotel in Portrush, currently under construction.
Gavin Elliott of CBRE highlighted the ETAP Hotel’s significance, noting its lease to Accor Business & Leisure Hotels Limited for another six and a half years, as the hotel sector in Ireland experiences rising investments and occupancy levels compared to pre-pandemic levels.
Robert Toland from Cushman & Wakefield McCombe Pierce, representing Andras House, said the acquisition of 35 Dublin Road was a valuable addition to the group’s expanding hotel portfolio, reflecting the strong interest in the Irish hotel sector and reinforcing hotels as attractive investment opportunities for local and international investors.
