Crowe provide advisory services to SW3 Capital & Firethorn Trust

Crowe Ireland is pleased to have advised SW3 Capital and Firethorn Trust on their joint acquisition of a purpose-built hostel accommodation (PBHA) development site at Sackville Place, Dublin 1. This acquisition represents the most valuable hospitality site deal in Dublin for 2024 and marks Firethorn Trust’s first joint venture with SW3 Capital in Ireland.

SW3 is a Dublin- and London-based real estate investment management company which specialises in strategies developed around macroeconomic analysis, and Firethorn Trust is market-leading investor, developer and asset manager in UK real estate.

Marcus Weeks, Director and Head of Living at Firethorn Trust, remarked, “Not only is this site our first PBHA asset, but it also represents our first acquisition outside of the UK. This project allows us to capitalise on Dublin’s status as a prime tourist destination while addressing a growing need for high-quality, affordable accommodation in the city.”

Ned Truman, Director and Partner at SW3 Capital, said, “We are excited to partner with Firethorn Trust and bring a fresh approach to hostel accommodations. This development offers affordable lodging with a focus on quality experiences, challenging traditional perceptions of budget hospitality. Our new operating brand, The Gofer, will oversee operations and deliver a unique experience for guests and investors alike.”

Weldon Mather, Crowe’s Director of Hotel, Tourism & Leisure, added, “This development reflects the growing demand for versatile, hybrid and well-designed hospitality spaces in Dublin. We were delighted to support SW3 and Firethorn on this project.”

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