Plaza Hotel in Tallaght on the market for €14m
By Alannah Kenny
THE Plaza Hotel on the Belgard Road is being sold by receiver Declan Taite of the Duff and Phelps Financial Institution through agency CBRE for €14 million.
The four-star hotel stands at 18,653 sq m on a site of 2.8 acres with 480 car-parking spaces.
Rent costs per month of The Plaza currently stand at €1,302,350 due to the combined hotel, retail units and offices.
The development is located in the centre of Tallaght’s commercial and business district with The Square shopping centre, IT Tallaght and the Luas Red Line all a short distance from the hotel.
The six-storey building has three floors containing 122 bedrooms, office and retail space and also includes a casino and pub with a basement nightclub in the hotel.
An unbreakable lease of eight years stands over the occupied office space which is mainly used by the Office of Public Works.
These offices are located on the first, fourth and fifth floors along with vacant office space on the fifth floor which could increase the costs in the long run.
The Echo attempted to contact Declan Taite of Duff and Phelps, but unfortunately he was unavailable for comment.
