Dalata buys Dublin development site for €12m

(ShareCast News) - Ireland's Dalata said it has paid €12m (£9.3m) in cash for a Dublin site on which it plans to build a 181-bed four star hotel as part of its Clayton brand.The company said the deal involved the purchase of DS Charlemont Limited, which owns the former Charlemont Clinic Site, in Dublin 2, from UK and Ireland regeneration developer, U+I plc.Dublin's City Council in January granted permission for the development, which also includes three residential apartments and basement car parking.Dalata said it expected the new hotel to be finished in the first half of 2018. The overall investment in the project, including the site purchase, will be in excess of €40m, creating around 100 new jobs when the hotel is operational.