Ireland's bad bank Nama has mandated agents Christie & Co and CBRE Hotels to sell Dublin's historic Gresham hotel with a guide price of over €80 mln.
Ireland's bad bank Nama has mandated agents Christie & Co and CBRE Hotels to sell Dublin's historic Gresham hotel with a guide price of over €80 mln.
The hotel, which is nearly 200 years old, provides 323 rooms as well as 22 meeting, conference and banqueting suites that have a combined capacity of 1,350 people. It also has planning permission to increase the number of bedrooms to 468 as well as to enlarge the conference areas.
The sales figure is well short of the €117 mln price paid for it in 2004 by Precinct Investments. Nama took over loans tied to the Gresham in 2011.
The Gresham is being offered 'unencumbered' which will allow the purchaser to continue trading under the Gresham name or convert the brand.
