Thursday February 27, 2020

Aviva makes first venture into hospitality with Premier Suites Ballsbridge deal

30th September, 2018
The apart-hotel in Dublin 4 is operated under the Premier Suites brand

Irish property fund Aviva last week acquired the 49-unit Premier Suites Plus Dublin Ballsbridge apart-hotel scheme in Dublin 4 for €17.5 million and is leasing it back to its previous owners, Prem Group, on a 35-year lease at a 5 per cent net initial yield.

Prem Group, a pan-European hotel owner-operator specialist, will continue to operate the apart-hotel under its Premier Suites brand.

The transaction represents the first sale and leaseback in the apart-hotel space in Ireland.

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The best writing and and the biggest stories of 2019 from the Business Post

Richie Oakley | 1 month ago

Denis O’Brien is back in court, residents continue to fight the Council on halting site and a row surfaces in government over rent control proposals

Leanna Byrne | 4 years ago