New 235-room hotel planned for Dublin’s Liberties after €54.2m funding deal

A four-star hotel with 235 rooms, studio accommodation, co-working space and a long-term operating agreement with The Ascott Limited is set to rise on Fumbally Lane after securing €54.2 million in development finance

A new 235-room hotel is set to be built in Dublin’s Liberties after the scheme secured €54.2 million in development funding.

The planned eight-storey project on Fumbally Lane in Dublin 8 will operate as a four-star hotel under The Ascott Limited’s Lyf brand, after the borrower agreed a long-term lease with the operator.

The development is aimed at both leisure and business travellers and will include a mix of standard rooms and studio units with kitchenettes. Ground-floor facilities are due to include a café, lounge and co-working space.

The project adds to a fast-changing part of the city, with the site close to Christ Church Cathedral, the Guinness Storehouse and within walking distance of Temple Bar. It is also served by Heuston Station, the Luas and multiple bus routes.

The €54.2 million facility was provided by Maslow Capital, which said the deal had been structured through its Lending Solutions division, the part of the business that focuses on more complex real estate lending.

Frank Daly, Senior Director, Origination (Ireland) at Maslow Capital, said: “It has been a pleasure working with MM Capital and SCIO Capital on this transaction. They brought a well-defined vision for the project, and we were able to structure a bespoke financing package that reflected the specific requirements of the scheme. 

“Dublin’s hotel market continues to benefit from strong visitor demand and limited new supply, and The Liberties is an increasingly attractive location for quality hospitality development.”

Maslow Capital said it has funded more than €11 billion of real estate projects and operates across Europe as part of Arrow Global Group.

Aron Connolly, Director, Lending Solutions at Maslow Capital, added: “What made this transaction well suited for our Lending Solutions product was the combination of a distinctive concept, strong delivery team and an excellent operator. 

“Our role was to understand the borrower’s business plan and structure a facility around it., rather than fitting the project to a standard template.”

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