€15m asking price for the Plaza
By Aideen O'Flaherty
THE PLAZA complex in Tallaght, which comprises The Plaza Hotel, offices and retail units, has gone on the market under the instruction of Nama with an asking price of €15m.
The complex was bought by an Irish investment company last November, for a figure in the region of €15m.
Management of the hotel was taken over by international hotel management company Prem Group last June, who took the decision to close the hotel’s nightclub.
The six-storey hotel contains 122 bedrooms, while there are also three floors of office space, two floors of which are let to the Office of Public Works on a long-term lease, and three ground floor retail units in the development.
The two floors which are let to the OPW bring in a rental income of €540,200, and the development has an overall vacancy rate of 60 per cent.
The sale of the complex is being handled by Adrain Trueick of Knight Frank.
