THE NETHERLANDS: Aparthotel group City ID has announced the acquisition of Capel Street site in Dublin amid plans for €1 billion investment.
The addition of the Capel Street aparthotel is the next step in its wider growth strategy across Europe and beyond.
Teaming up with pension provider APG and Aware Super, City ID is aiming to invest more than €1 billion over the next five years to grow its international platform of aparthotels across major European cities.
The site is located on the corner of Capel Street and Little Strand Street and the new aparthotel will draw on Dublin’s architectural heritage while keeping a fresh contemporary look.
Alexander Goad, CEO at City ID, said: “We love Dublin. It provides a wonderful chance for our group to express our vision of creating an urban oasis for our guests and the local com- munity. With this fantastic new City ID location on the historically rich Capel Street, we aim to inspire our guests to experience the local life both inside and outside of the hotel. We’re thrilled that, with this fifth landmark in our portfolio, we continue our journey of building our platform across major European cities.”
The aparthotel will offer 104 apartments and each will feature fully equipped kitchens and living spaces.
The top floor will offer views over the river Liffey and Southern Dublin and the ground floor will include an open and vibrant lobby, a deli, bar, and a wellness area which can be accessed by guests and local people.
Capel Street is within walking distance of the vibrant nightlife of Temple Bar, shopping districts Henry and Grafton Street and landmarks such as Dublin Castle and St Stephens’s Green.
The acquisition of Capel Street, Dublin adds to its three locations in central Amsterdam and its latest site in central London’s Westminster.
