Irish hostel group A Star Backpackers has sold a prime development site at Sackville Place off O’Connell Street, Dublin, to London-based Firethorn Trust.
Originally purchased for €5.5m from Technological University Dublin, the site has been granted planning permission for a six-storey, 588-bed hostel, significantly increasing its value.
The newly planned hostel will feature modern communal spaces, including a bar, café, and lounge accessible to the public. Accommodation will vary from bunk dormitory rooms to private double rooms.
Expected to break ground in spring 2025 and finish by January 2027, Firethorn Trust will manage the hostel’s operations in partnership with SW3 Capital, which has invested in several residential projects in Dublin. JLL acted as the advisor for the transaction.
