Dalata has agreed terms to buy the Maldron Hotel in Wexford in a deal worth more than €3.5m.
According to Dalata, the hotel, which has recently completed a full refurbishment, contains 108 bedrooms, a bar and restaurant, a state-of-the-art leisure centre and four conference rooms. Dalata has operated the hotel since August 2007 under the terms of a 33-year leasehold agreement with a current annual rent of €300,000 per annum subject to upward only rent reviews at five-year intervals. The next rent review is due in January 2019.
It is expected that the transaction will complete in April.