€1.6m at auction for Castletown Inn
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.