Saturday 19 August 2017

€1.6m at auction for Castletown Inn

The Castletown Inn was the subject of intense bidding
The Castletown Inn was the subject of intense bidding
Ronald Quinlan

Ronald Quinlan

The Castletown Inn in Celbridge, Co. Kildare, secured an impressive €1.6m at auction last week.

Agents REA Coonan and John Younge Auctioneers presided over the sale of the premises in a public auction held at Buswells Hotel in Dublin on Wednesday, July 5.

Bidding on the Castletown Inn opened at €850,000 and increased in increments of €25,000 up to €1,375,000. At that stage, the auction was adjourned and following a brief discussion with the vendors, the instruction was to try again. The bidding then went to €1,475,000 and after further consultation with the vendor, it was agreed to place it on the market at this level. A further bid of €1,480,000 followed before the successful bidder, a prominent publican from North Kildare, delivered a knockout bid of €1,600,000 to secure the property.

The Castletown Inn is a long-established and successful pub located at the heart of Celbridge town.

Upstairs is the popular Green's restaurant with a separate entrance and seating for 65 people. The property has the benefit of a rear car park consisting of 43 car spaces. The entire site consists of 0.5 acres and has the benefit of an adjacent detached two-storey house.

It is a square site with substantial frontage and profile to Celbridge's main street and has, according to the agents, obvious development potential.

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