Ireland: Property management company PREM Group has bought Merrion Hall in Dublin and will open it as four-star serviced apartments in July 2014.
PREM Group led a small group of investors in purchasing the
Ballsbridge property and plans to open it under its Premier Suites
in July. The property is partly constructed and PREM Group
estimates that the total investment on completion will be in excess
of €5 million.
Jim Murphy, group managing director for PREM Group said: "With its close proximity to the RDS and its easy access to Dublin city centre and the Docklands, we expect Merrion Hall to appeal to business travellers and tourists alike."
PREM Group has also announced its intention to launch an EIIS investment scheme for Merrion Hall in the second half of 2014.
The purchase brings the number of hotels and serviced apartments managed and operated by PREM Group to 37. Its portfolio spans Ireland, the UK, Belgium, Germany, France and Poland. The group says it is exploring other opportunities for expansion in Ireland and across Northern Europe in 2014.