Specialist lender Leumi UK has agreed a €43 million loan to The Dean Hotel Group for the purchase of the Clarence Hotel, a historic four-star hotel in Dublin’s city centre previously owned by members of the rock band U2.
The funds will allow the borrower, which has owned the leasehold on the property since 2019, to acquire the freehold and add an additional 43 rooms.
The Clarence Hotel, known internationally as Dublin’s ‘rock and roll hotel’, is located in the Temple Bar neighbourhood next to the city’s top music venues and tourist attractions. Purchased by U2’s Bono and The Edge in 1992, the building’s iconic rooftop is known for the band’s live performance of hit song ‘Beautiful Day’ on BBC’s Top of the Pops in 2000.
