HIYA! CITY ID ACQUIRES PRIME SITE IN THE HEART OF DUBLIN
Amsterdam, July 27th, 2022 - The fast growing apartment hotel group City ID has announced the acquisition of Capel Street in Dublin. The latest addition to their brand is the next step in its wider growth strategy across Europe and beyond.
The acquisition of Capel Street adds to its three locations in central Amsterdam and to its latest site in central London’s Victoria district. Together with pension provider APG and Aware Super, City ID is implementing its strategy of international growth. The goal is to invest more than € 1 billion over the next five years to grow its international platform of apartment hotels across major European cities.
City ID is loved for offering a combination of modern full service hospitality together with authentic design apartments, whilst creating a unique locally embedded experience for international and local guests. The new site fits perfectly with their vision: creating properties with special and rich heritage, paying homage to the surroundings and becoming one with the area.
The property is located on the corner of Capel Street and Little Strand Street and will draw on Dublin’s architectural heritage introducing a contemporary, impactful building with a fresh identity. The apartment hotel will offer 104 generous apartments with a diverse room mix. Each will feature fully equipped kitchens and living spaces, perfectly suited for short and long stays. The top floor will offer stunning views over the river Liffey and Southern Dublin. Its ground floor public area will include an open and vibrant lobby, a neighbourhood deli, bar, and an extended wellness area accessible for hotel guests, local residents and neighbouring business workers.
Bustling Dublin with its rich heritage and culture is a great opportunity for City ID, being an attractive destination for leisure travellers whilst also welcoming a continuous positive influx of new businesses. Capel Street has evolved into a cosmopolitan neighbourhood and 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.
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 community. 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.”
About City ID
City ID is a fast growing, award-winning and customer centric apartment hotel group, aiming to optimize the many touchpoints that result in an optimal stay.
Together with shareholders APG (one of the largest pension provider in the Netherlands) and Aware Super (one of Australia’s largest pension funds), it shares the long-term vision and passion to create apartment hotels with an entrepreneurial and modern hospitality mindset.
Our apartment hotels offer fully equipped design apartments with the benefits of hotel services and amenities such as beautifully designed gym & wellness areas, restaurants serving seasonal food and in room service. A key focus for all hotel buildings is the incorporation of innovative sustainability solutions at every guest touchpoint. The hotels are suited for business and leisure travellers looking for longer or shorter stays. City ID is a fully integrated owner-operator and can acquire development sites and turnkey deliveries. Target developments include new builds, (office) conversions, mixed-use schemes and existing hotel conversions of 4.000 to 20.000 square metres in prime European capital city locations.
About APG
As the largest pension provider in the Netherlands APG looks after the pensions of 4.8 million participants. APG provides executive consultancy, asset management, pension administration, pension communication and employer services. We work for pension funds and employers in the sectors of education, government, construction, cleaning, housing associations, sheltered employment organizations, medical specialists, and architects. APG manages approximately € 575 billion (May 2022) in pension assets. With approximately 3,000 employees we work from Heerlen, Amsterdam, Brussels, New York, Hong Kong, Shanghai and Beijing.
About Aware Super
Aware Super is one of Australia’s largest superannuation funds, managing more than $150b on behalf of 1.1 million members. Our members work in roles that breathe life into their communities and they expect us to do the same. So, we invest in assets that we believe will make a positive difference today – improving our communities, building a more sustainable economy and supporting employment both locally and globally at the same time as providing strong long-term returns.
Advisors
The acquisition process has been supported by Maples and EY and CBRE represented the seller..
