The Doyle hotel family has acquired a number of properties just off Grafton Street adjoining its five-star The Westbury, with reports suggesting that, if redeveloped, would add another 50 bedrooms at the hotel.
The purchase is part of a larger portfolio of Nama loans that have been up for sale, known as Project Madrid, with Friends First acquiring nine retail and office properties mainly in South William Street and Clarendon Street in Dublin city centre for around €30 million, reports The Irish Times, which added that the Madrid portfolio was assembled by businessman Bernard McNamara to facilitate the development of an upmarket shopping enclave between Clarendon Street and South William Street.
The Doyle's successful bid sees it acquire 6-7 and 8-9 Balfe Street, and 1 Westbury Mall, which gives it scope to look at the possibility of extending the size of its popular luxury hotel.
